Iran Nuclear Deal Seen Cutting Oil Prices by $15 a Barrel

April 8, 2015 6:40 AM

54 0

Oil prices could tumble $15 a barrel next year if sanctions are lifted following a final nuclear deal with Iran, according to the Energy Information Administration.

Iran and world powers reached a preliminary agreement on April 2 that set the parameters for further negotiations needed to complete an agreement by a June 30 deadline. The re-entry of more Iranian barrels could cut the agency’s price projection by $5 to $15 a barrel, the EIA said Tuesday.

Also read: Samsung Pay won't reach the UK until sometime next year

Read more

To category page

Loading...