Lifting of Iran sanctions could have major impact on global oil balance

Lifting of Iran sanctions could have major impact on global oil balance
With the US working toward a nuclear deal with Iran, lifting Iranian sanctions could have a significant impact on the global oil balance. If sanctions are lifted, as much as 1 million more barrels of oil per day could enter the global supply by the end of 2016. With supply levels from Saudi Arabia unlikely to decrease during that period, Thomson Reuters Oil Research & Forecasts predicts a 13% drop in the average Brent spot price in 2016 if Iranian oil re-enters the market. http://www.ogfj.com/articles/2015/05/lifting-of-iran-sanctions-could-have-major-impact-on-global-oil-balance.html?cmpid=EnlOGFJMay122015.html