Oil investors now have to contend with another wildcard: Iran soon returning to the oil markets. After a three-year layoff, Iran could be poised to officially rejoin the ranks of oil exporters as early as 2021. But does it really portend oil price doom? Not necessarily. Oil prices reacted positively after OPEC and its non-OPEC partners last week reached a favorable agreement to start gradually curbing production cuts beginning in May. Starting next month, OPEC+ will allow an additional 350,000 barrels per day to join the markets, with another 350,000 coming in June and June and 450,000 barrels per day slated for July. Going by the margin of the increases, it’s obvious that the alliance is trying to exercise plenty of caution to avoid upsetting a still-delicate market balance as the ongoing coronavirus crisis continues to cloud the market outlook. The organization is currently holding back just over 7 […]