Oil industry experts say it is unlikely that Iran will flood the market with oil if sanctions are lifted as a result of Iranian nuclear talks, quelling fears that the talks would spook the markets. Negotiations between Iran and the U.S., UK, France, Russia, China and Germany – the so-called P5+1 group – reconvene this week, with the aim of curtailing Iran’s controversial nuclear programme, in exchange for the lifting of crippling international sanctions. Iran already has large amounts of oil in storage which have been extracted, say experts. Although it is a state secret exactly how much oil Iran has stored, analysts predict it could be as much as 37 million barrels. There have been reports that an injection of hundreds of thousands of barrels a day into the oil market, which is already struggling with oversupply, could […]