What the Iran Deal Means for the World Economy - Bloomberg Business

What the Iran Deal Means for the World Economy - Bloomberg Business: "With



Obama securing enough Senate votes to support an historic accord, it looks like Iran is closer to emerging from some of the financial restrictions imposed to discourage it from developing nuclear weapons. Here's what the deal means economically. 



1. Iran
Iran is clearly the top winner, with its $388 billion economy likely to reach 6 percent growth as early as 2016, according to Garbis Iradian, chief economist for the Middle East & North Africa at the Institute of International Finance.



2. Oil prices
As home to the world's fourth-largest oil reserves, Iran is likely to increase its production as much as 800,000 barrels a day in 2016. Still, even as it accounts about 1 percent of today's global oil supply, it may not have much of an impact on an already oversupplied market, according to a report this week from A.T. Kearney. The firm is projecting that Brent oil prices in 2016 will most likely stay in the range of $45 to $65 a barrel.



3. The U.S. 
Even after the nuclear deal is implemented, sanctions preventing most U.S. companies from dealing with Iran will remain in place. The agreement won't move the needle on U.S. growth as a whole in 2016, says George Abed, senior counselor and director for Africa & the Middle East at the IIF. It won't affect global growth, either, he says. One significant exception is the aviation industry. The deal calls for the U.S. to grant licenses to allow the sale of commercial passenger aircraft, as Iran needs to invest at least some $20 billion to update its aging planes. "



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