According to Bloomberg, the national Iranian oil company has already started preparations in the oil fields for a possible increase in exports.
According to him, the National Iranian Oil Company (NIOC) has already started preparations in the oil fields for a possible increase in exports. According to the most optimistic forecasts, Iran will be able to return to the production level of 4 million barrels per day within three months. At the same time, as the agency notes, there are several obstacles to such a development – even if the United States lifts all existing sanctions on the sale, delivery, and insurance of hydrocarbons, many buyers after a long break can still take a passive attitude to the appearance of Iranian oil on the market. “Our return [to the market] will be a gradual process rather than a quick and unexpected one – it can’t happen overnight,” Bloomberg quoted former NIOC spokesman Mohammad Ali Khatibi, who also noted that one of the negative factors may also be reduced demand for hydrocarbons during the pandemic.