for Iran Deal
After oil's steep fall in the final weeks of 2018, a diverse array of factors means the rollercoaster is likely to continue in 2019 with forecasting prices proving to be equally hazardous.
Iranian oil output has come a long way since the nuclear deal went into effect and tough sanctions were lifted in January 2016, but the outlook now very much depends on the outcome of the May 19 presidential election.
Although revisions to the Iran Petroleum Contract raise questions about the attractiveness of the country’s business climate for foreign companies, the approval represents a major step forward to opening Iran for business.
The Iran nuclear deal has sweeping implications for oil markets, reigniting tensions within OPEC, contributing to global oversupply, and potentially encouraging Iran's regional rivals to pursue nuclear weapons of their own.