Iranian oil sanctions relief still expected as Vienna talks stretch into summer
Episode description
The US and Iran are entering a sixth round of indirect talks in Vienna aimed at restarting the 2015 nuclear deal.
S&P Global Platts Analytics still expects the sides to reach a deal in the coming months, with the Biden administration removing sanctions on Iran's oil, petrochemical, shipping and other sectors by September. This sanctions relief would allow Iran to boost crude and condensate exports to 1.5 million b/d by December, from 600,000 b/d in May.
We spoke with Henry Rome, senior analyst at the Eurasia Group, about the main sticking points to reaching a deal. He also walks through some of the domestic political dynamics in Tehran and Washington and gives his prediction for when higher Iranian oil exports will start to flow.
Stick around after the interview for the Market Minute, a look at near-term oil market drivers.
Related stories:
US State Department sees longer road ahead for Iran talks, lifting sanctions