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GRM: Good news from Iran does not equal near-term prospects for oil

The more reform-minded politician Hassan Rohani may have won the Iranian election during the weekend, but it will be a good while before a reestablishment of the oil production will come into question, estimates Global Risk Management.

Photo: Casper Dalhoff

That Hassan Rohani, a more moderate politician, will become the new president of Iran will not affect the oil market significantly, even though trading is often carried out based on expectations for production and prices.

This is the assessment made by Global Risk Management in a comment on the result of the Iranian election which was reached on Saturday, a result which surprisingly stumped the hardliners. Thereby, optimism has increased in relation to the failed negotiations involving the country’s atomic program, a situation that prompted the EU and the U.S. to enforce a notable embargo which has been active for about a year. Due to the embargo, Iran has not been able to sell oil which has affected the country’s economy significantly.   

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