Report predicts that Iranian exports will ramp up when international sanctions are lifted Another major global forecast has suggested that the oil price has a lot further to fall yet – and that it could go as low as $20 a barrel. This is the extreme low “cost price” predicted since the autumn by Goldman Sachs for early next year. Now the International Monetary Fund has hinted that global prices could fall this low when Iran increases its oil exports in the wake of the lifting of international sanctions. Iran reckons it could increase its output by around one million barrels a day. The oil would enter a global market that is already oversupplied by up to two million barrels a day. The IMF says this will bring renewed downward pressure on the beleaguered oil industry that will cause prices to fall from their current levels by between $5 […]