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Sanctions will not have much impact on Iran’s oil production

manager May 27, 2018 Economy Comments Off on Sanctions will not have much impact on Iran’s oil production 85 Views

In an interview with Russian TV RBK, he said in response to a question whether sanctions may cut Iran’s oil production by 800,000 barrels a day, he said, “I think the figure will be so little.”

Of course, the situation depends mainly on Iran’s oil importers, most of which are located in Asia and Pacific Ocean, he said.

“I believe that sanctions will leave little impact on Iran’s oil production and it may cut only 10 percent of the total production,” he said

He anticipated that oil prices in global markets will stand at between 65 to 75 dollars a barrel by the end of the year.
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