YGRN - Iranian Oil Revival Will Not Add Short-Term Bearishness

• According to S&P Global Platts, if the US removes sanctions on Iranian oil, there could be a possible return to pre-sanctions oil production of about 3.9 million barrels per day (bpd) next year.
• With signs the market will already be undersupplied in the second half of 2021, the addition of Iranian supplies will not rock the physical oil market, and oil prices might continue their upward momentum.
• OPEC+ output cuts do not seem to be influenced by the possible increase in Iranian supplies, still some market analysts seem so concerned that Iranian oil might flood the market.

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