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June 17, 2016       Share:    

Source: http://www.bloomberg.com/news/articles/2016-06-15/iran-oil-comeback-that-startled-doubters-approaches-roadblock

Iran's Oil Comeback

(Bloomberg) Anthony Dipaola and Grant Smith - Iran easily beat expectations with its speed in boosting oil exports after the lifting of sanctions, with exports having doubled to 2 million barrels a day, flowing again to previously prohibited markets in Europe. A series of output disruptions from Nigeria to Canada and Venezuela has meant that the extra Iranian oil has been easily absorbed by the market, said Mike Wittner, head of oil-market research at Societe Generale SA in New York.

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