Oil prices could tumble $15 a barrel next year if sanctions are lifted following a final nuclear deal with Iran, according to the Energy Information Administration.
Iran and world powers reached a preliminary agreement on April 2 that set the parameters for further negotiations needed to complete an agreement by a June 30 deadline. The re-entry of more Iranian barrels could cut the agency’s price projection by $5 to $15 a barrel, the EIA said Tuesday.
“If a comprehensive agreement that results in the lifting of Iranian oil-related sanctions is reached, then this could significantly change the STEO forecast for oil supply, demand, and prices,” the EIA said in the report. “However, the timing and order that sanctions could be suspended is uncertain.”
More
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
Just like the trade for Bergdahl - worthless! We could force the price of oil down by ourselves if the government would let us!
ReplyDeleteThis is BS to get sheeple to accept the nuke deal that Lurch put together!
So y have gas prices gone up 20 cent in one fn day in Salisbury.
Delete