A landmark interim deal last November between the Western powers and Iran over the latter’s nuclear program could see about 200,000-300,000 b/d of additional oil released into the markets by mid-year, but any further increments are likely to take years, according to US-based consultancy FACTS Global Energy’s chairman Fereidun Fesharaki. The November deal between Iran and the so-called P5+1 — Britain, China, France, Russia, the US and Germany — took effect on January 20 and holds for six months. The agreement, which has eased some of the crippling economic sanctions against Iran for a period of six months, could see Iranian crude supplies going up by around 200,000-300,000 b/d by July, Fesharaki told the 32nd JCCP International Symposium in Tokyo Wednesday. But a full return of the estimated 1.2 million b/d of Iranian crude locked out of the markets as a result of several […]