Bloomberg quotes Global Energy Center Nonresident Senior Fellow Sara Vakhshouri on the impact of lifting sanctions on Iran’s oil industry:
Even if Iran can increase production as quickly as Zanganeh claims, it may have to incentivize buyers by offering lower prices or by trading oil for goods or services, says Sara Vakhshouri, president of SVB Energy International, an energy consulting group in Washington. That’s because the Saudis have used long-term contracts to lock in customers who not long ago bought Iranian oil.