| New supply could further pressure prices, but any selloff depends on Tehran increasing production in the face of competition. A nuclear deal between Iran and six world powers raises the specter of a fresh oil glut further pressuring prices, but any selloff depends on how successfully Tehran can increase production and sell crude in the face of competition.
The possibility of up to a million new barrels of Iranian oil flooding global markets, the amount Iranian officials aim to deliver within months, comes at a critical time. China’s stock-market turmoil in recent weeks could slow an economy that was expected to account for a lot of energy-demand growth...............................................Full Article: Source
|