With oil prices soaring and very few options available for new supply, rumors of a new Iran nuclear deal continue to surface.
If a new deal were reached, Iran would be able to bring more than the one million barrels per day of oil online and could significantly lower oil prices.
The one major issue stopping the deal from being made is the status of the IRGC, and the U.S. has made it clear that it won’t budge on this issue.G7 leaders have been discussing the prospect of reviving the Iran nuclear talks, a French presidency official said last week and, given continuing high oil prices and an enduring tight supply profile, talk has turned again to the potential for new barrels to start coming into the global oil market from Iran.
So, what is the hold-up right now to just rubber-stamping a new version of the JCPOA, that had been “ninety-five percent agreed on,” according to highly-placed sources in Tehran and Washington spoken to by Oilprice.
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