X

Sign Up To Our Free Newsletter

Join Now

Thanks for subscribing to our free newsletter!

ERROR

  • 3 minutes Texas forced to have rolling brown outs. Not from downed power line , but because the wind energy turbines are frozen.
  • 7 minutes Scientists Warn That Filling The Sahara With Solar Panels Is A Bad Idea
  • 11 minutes United States LNG Exports Reach Third Place
  • 15 minutes Joe Biden's Presidency
  • 47 mins U.S. Presidential Elections Status - Electoral Votes
  • 11 hours Interest article about windmills and waterwheels in Europe
  • 6 hours Retired RAF pilot wins legal challenge over a wind farm
  • 2 days NYT:  The Supreme Court’s order (Re:  Trump’s tax returns) set in motion a series of events that could lead to the startling possibility of a criminal trial of a former U.S. president
  • 1 day Speaker Pelosi, "Tear Down This Wall"
  • 22 hours Chance for (Saudi)Arabian peninsula having giant onshore Gas too?
  • 2 days Disaster looming in UK offshore wind power
  • 2 days Wednesday Nikki Haley reached out to Trump for meeting at Mar-a-lago. Trump said No ! You blew it Nikki . . .
  • 20 hours “Cushing Oil Inventories Are Soaring Again” By Tsvetana Paraskova
  • 2 days Scientist clone endangered Black Footed Ferret from Ferret that died 30 years ago . It's a 100% exact genomic match.
Oil Holds Gains Above $60

Oil Holds Gains Above $60

Oil prices are at a…

Exxon Shocks As Oil Reserves Drop By A Third

Exxon Shocks As Oil Reserves Drop By A Third

Exxon slashed its oil reserves…

Editorial Dept

Editorial Dept

More Info

Premium Content

Will Biden Bring Iranian Oil Back Online?

As the Trump administration continues to slap more sanctions on Iranian oil and launches a flurry of enforcement actions, seizing Iranian weapons and oil bound for Venezuela, some are hedging that a potential Biden victory could lead to a relaxation of sanctions on Iran and a return to the market of Iranian oil. 

Markets would have to keep in mind, however, that in the event that Biden wins and even assuming (unlikely) that one of his first actions would be to allow Iran to resume oil exports, it would still take Iran 12 months at the minimum to ramp up to any market-threatening volumes. That would, in turn, potentially be timed with best estimates of a COVID-19 vaccine, which would precede an uptick in oil demand.  

And even then, this is a best-case scenario for Iran, which is getting by with sanctions-busting exports at the moment, most recently using the Iraqi coast as a waypoint for avoiding US sanctions. 

It is not likely that Biden would immediately move to open the Iranian oil floodgates. The Democrats are not necessarily foaming at the mouth to cater to Iran after the incidents of this past year. The genie that’s been let out of that bottle is rather more difficult to put back in at this point. Biden has indicated that he would seek to revive the nuclear deal with Iran; however, another deal would potentially carry wider restrictions for Iran than the 2015 deal did, and there is no fast-track scenario for such negotiations,…





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News