Framework Nuclear Deal Could Be Good News For Iran's Oil Sector

April 4, 2015 9:45 PM

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Framework Nuclear Deal Could Be Good News For Iran's Oil Sector

The framework nuclear deal reached with Iran this week could have an enormous impact on the global oil market. Sanctions, which have crippled the country's oil exports, could be lifted if a final nuclear agreement is signed at the end of June between Iran, the U.S. and five other world powers.

Cliff Kupchan, a senior Iran analyst at the Eurasia Group, says oil exports brought in about 40 percent of the government's revenues. He says since sanctions were tightened in 2012, Iran's oil exports have fallen by almost a half.

Also read: Iran welcomes OPEC production cut decision

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