How a nuclear deal with Iran could affect gas prices
Boston.com - 03/20/2015
While Iran’s current oil production is about 2.8 million barrels per day, Middle Eastern economies expert Dr. Kamran Dadkhah said only about 1 million barrels per day are exported. But a nuclear deal with the country would most likely ease Western sanctions, allowing Iran to increase oil exports.
“Right now if the sanctions were removed, it would take some time, but within a year it could add 1 million more barrels a day to their exports,” Dadkhah, an associate professor at Northeastern University, said, adding that Iran would first have to make “great investments” in some of its languishing oil fields before that could happen.