Iran production could return ‘within two months’

A likely, albeit not certain, revival of the JCPOA agreement could see a swift rebound in Iranian barrels, says veteran analyst

The need for Iranian president-elect Ebrahim Raisi to legitimise his rule through economic progress, after record low turnout statistics, should lead to grudging support for a new agreement on the Joint Comprehensive Plan of Action (JCPOA), Bijan Khajehpour, senior associate at political risk consultancy Menas Associates and editor of its Iran Strategic Focus, told an end-of-May webinar. And the restoration of JCPOA should be followed by a material return of Iranian crude and products exports within a matter of weeks. “With sanctions, Iran has actually managed to export c.1mn bl/d of crude and condensate and a growing amount of petroleum products. Putting all of them together, exports are 1-