There Could Be an Iran Deal This Weekend, But Don’t Expect Oil Prices to Plummet
Foreign Policy - 11/22/2013
Kamran Dadkhah, an associate professor at Northeastern University who has studied the Iranian economy, said Iran’s oil industry has been left behind as technology has improved because there’s been no real investment in Iran’s oil fields in decades. For instance, he said, the lack of investment means Iran’s oil wells aren’t well maintained.
“If the sanctions are lifted and investment goes to Iran, in the long run, you will have a very, very positive effect,” Dadkhah said. But, he added, the big caveat is whether Iran sticks to any deal it makes in Geneva.