Iran’s return to global oil markets after sanctions were lifted isn’t living up to the country’s grand ambitions, or at least not yet. Six weeks after the historic nuclear deal that allowed Iran to resume oil sales around the world, the OPEC member is shipping barely a third of the extra 500,000 barrels a day it had vowed to unleash within weeks of sanctions being lifted. The country faces hurdles at every step, whether reviving output from aging oil wells or overcoming lingering banking constraints that have forced it to sell crude in barter arrangements , according to BNP Paribas SA. “Iran is facing short-term obstacles in regaining market share lost to other OPEC members, and in restoring production to pre-sanctions levels,” said Harry Tchilinguirian, head of commodity markets strategy at BNP Paribas in London. “Longer term, the legal and regulatory framework is an obstacle.” Iran was the second-largest […]