Iran has increased its oil exports this year and the United States may allow Iranian oil to enter world markets even without a further agreement, according to Bloomberg.
The need to reduce prices is the most important reason why the United States is likely to waive sanctions on Iranian oil barrels.
The sharp rise in gasoline prices in the United States, following a 50 percent increase in world oil prices, has put Biden administration under severe pressure.
In addition to daily production, Iran has about 100 million barrels of oil in stock that can be sold quickly and balance the market.
In case of clinching an agreement over Iran’s nuclear deal, JCPOA, supply of oil in world markets will increase by 500,000 to one million barrels which will lead to a decrease in world oil prices.
OPEC Plus's decision on Thursday to accelerate production growth is unlikely to have much of an impact on lower oil prices.
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