upthrust in near supply zone
Prospects of any additional supplies from Iran could be months off. Talks over a nuclear deal that paves the way for sanction relief have apparently stalled just before the finish line. Should an agreement be reached, exports could ramp up by around 1 mb/d over a six-month period. Outside of the OPEC+ alliance, growth will come from the US, Canada, Brazil and Guyana, but any near-term upside potential is limited.
Prospects of any additional supplies from Iran could be months off. Talks over a nuclear deal that paves the way for sanction relief have apparently stalled just before the finish line. Should an agreement be reached, exports could ramp up by around 1 mb/d over a six-month period. Outside of the OPEC+ alliance, growth will come from the US, Canada, Brazil and Guyana, but any near-term upside potential is limited.