Goldman Sachs sees Iran nuclear deal as downside risk to its oil price forecast | Reuters

Goldman Sachs sees Iran nuclear deal as downside risk to its oil price forecast | Reuters:



"This week's nuclear deal between Iran and major global powers puts downside risk to oil prices as Iran's vast reserves gradually start to return to the market in 2016 in greater volumes, U.S. bank Goldman Sachs said.



Under the agreement, sanctions imposed by the United States, the European Union and the United Nations are to be lifted in exchange for curbs on Iran's nuclear program.



Iran, a member of the Organization of the Petroleum Exporting Countries (OPEC), exported almost 3 million barrels per day (bpd) of crude at its peak, before sanctions over its alleged ambitions to build a nuclear bomb saw shipments collapse to about a million bpd over the last 2-1/2 years."



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