Iranian Oil Minister Bijan Namdar Zanganeh said that Iran can already increase oil production almost 3 times. If we consider that, according to OPEC, in March, Iran's oil production was 2.3 million barrels per day, then it will have to produce an additional 4.1 million barrels per day. For comparison, Russia has recently exported 4.5 million barrels a day. That is, Iran can practically replace the Russian Federation in the global market. Before the pandemic crisis, Russia exported about 5 million barrels of oil a day. However, the terms of the OPEC+ deal do not allow it to return to this level. Bloomberg has estimated that if sanctions imposed during the presidency of Donald Trump are lifted from Iran, its production could double in 3-6 months – up to 4.5 million barrels per day. At the same time, Goldman Sachs believes that in this case, Iran in the second half of the year can increase production by only 1.5 million barrels per day.
Other analytics by this trader
EUR/USD: the first signs of slowing inflation in the US have appeared

Copper is getting cheaper due to the strengthening of the US dollar

The European Union will gradually increase LNG imports from the United States

Bitcoin has formed a new resistance level around $48051

Gold is consolidating around $1,928 per ounce after a week of growth

GBP/USD is consolidating in anticipation of news

EUR/USD rose to the level of 1.1165

Bitcoin, after a slight increase, could not break through the resistance level of $48051
