Iran: Most oil output can be restored in one month of sanctions ease
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“Most oil output can be restored in one month of sanctions ease,” the National Iranian Oil Company’s (NIOC) Deputy Director of Production Affair Farokh Alikhani said on Wednesday.
“Shana to fully restore oil output in three months after sanctions removal,” Alikhani added.
Earlier on, Iranian officials said that oil sanctions are still not resolved in the nuclear talks.
WTI reaction
WTI is slightly off the session highs of $70.59 on the above comments, currently trading at $70.46, up 0.57% so far.
The US oil refreshed over two and a half years highs at $70.63 earlier in the Asian session.
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