The Middle Eastern hydrocarbons powerhouse could even hit 3.6 million bpd of crude output capacity “within months” of international sanctions being lifted, as is hoped, the International Energy Agency (IEA) said in its latest report.
Iran and the P5+1 powers of the US, UK, France, Germany, Russia and China reached a landmark deal on 14 July on Iran’s nuclear programme, which could pave the way for a lifting of long-held economic sanctions.
