for Iran Deal
The U.S. State Department announced on April 22 that it would let all Iran sanctions waivers expire at the beginning of May as part of the Trump administration’s “maximum pressure” campaign on Iran.
With the expiration of the waivers now just a little more than two weeks away, the oil market is on edge as the White House weighs its next steps.
The U.S. government's goal to knock Iran oil exports down to zero may be boxed in by its own policy towards Venezuela.
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.