Trump, Iran have a huge impact on global oil markets

When the Iranian nuclear deal was signed in 2015 and economic sanctions against Iran lifted, I wrote in this column how additional Iranian oil and gas resources would be unleashed into the global markets. Although the accord was signed when the world was already awash with oil supplies, Iran has since then attracted oil and gas investments and stepped up exports.

Iran has the fourth largest oil reserves in the world and is a preferred upstream investment destination because it has low unit production costs when compared with the high cost deep sea and non-conventional sources.