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Nuclear deal will send huge oil deposit on the market

Tuesday marks the deadline for a nuclear deal between Iran and the US. If a deal is agreed upon, Iranian oil tankers will be standing by with huge oil deposits which could create fluctuations in the market.

Photo: Vahid Salemi/AP/POLFOTO

Tuesday marks the deadline for a nuclear deal between Iran and the US. If a deal is agreed upon, Iranian oil tankers will be standing by with up to 45 million barrels of oil which could create fluctuations in the market, and there is a prospect of increased oil production from the OPEC country going forward, assesses an oil analyst according to Norwegian newspaper Dagens Næringsliv.

Iranian oil deposits contain about 70 million barrels of oil. In comparison, Norway produces 1.5 million a day.

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