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Oil falls on prospect of higher Iranian exports | Reuters

Oil falls on prospect of higher Iranian exports | Reuters: Oil prices fell on Wednesday as investors digested the likely impact of increasing Iranian fuel exports at a time of heavy oversupply.

A milestone nuclear deal reached on Tuesday between six world powers and Iran will mean sanctions that have limited sales of Iranian oil for several years are likely to be lifted in early 2016.

Analysts at Goldman Sachs estimate Iran could supply and extra 200,000-400,000 barrels of oil per day (bpd) in 2016 on top of a release of 20-40 million barrels from floating storage, unleashing a ramp-up in supply from a nation that holds some of the world's largest oil reserves.
Oil falls on prospect of higher Iranian exports | ReutersSocialTwist Tell-a-Friend

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