| The prospect of Iranian crude oil returning to the market has heaped further pressure on prices this week. Brent, the international oil benchmark, sank to 2003 lows of less than $28 a barrel. But just how quickly can these additional Iranian barrels make their way to customers?
Once the second-largest producer in Opec, Iran’s output has averaged 2.8m barrels a day — from 3.6m b/d in 2011 — as a result of the western sanctions aimed at reining in the country’s nuclear activities. Iranian officials have vowed in recent months to increase output by 500,000b/d immediately after the lifting of restrictions and a further 500,000b/d within seven months...............................................Full Article: Source
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