Iran Could Lose 500,000 Bpd If Trump Trashes Deal | WHAT REALLY HAPPENED

Iran Could Lose 500,000 Bpd If Trump Trashes Deal

Declining oil production from Venezuela is all but assured this year, but another OPEC member presents another supply risk to the market: Iran.

Conflict between the U.S. and Iran is one of the top geopolitical risks to the oil market this year. A new report from Columbia University’s Center on Global Energy Policy spells out the possible scenarios that could play out later this year as the Trump administration steps up its aggressive posture towards Tehran.

President Trump has begrudgingly waived sanctions on Iran multiple times so far, as he is required to do every few months as a way of recertifying the nuclear deal, officially known as the Joint Comprehensive Plan of Action (JCPOA). However, when he waived the sanctions in January, he said it would be the last time he did so unless the nuclear deal was somehow fixed, although how specifically that was supposed to be accomplished was unclear.