U.S.-Iran Deal Threatens Fresh Blow to Oil

摘要

A landmark deal between the U.S. and Iran to limit Tehran's nuclear ambitions and lift international sanctions could deal a fresh blow to oil prices and the beleaguered North Sea. Iran has the world's fourth-largest oil reserves and the second-biggest gas resources. But production has been hamstrung by western sanctions. Exports have roughly halved since 2011, with most of Iran's crude sold to China, India, and other Asian buyers.