ADIA, Citi analysts see ample oil supply to withstand Iran sanctions | Reuters

ADIA, Citi analysts see ample oil supply to withstand Iran sanctions | Reuters:

U.S. sanctions on Iran are unlikely to impact the oil market due to a glut in supplies globally, but Iran’s production capacity could be hit due to a possible squeeze in investments, the head of research at Abu Dhabi Investment Authority (ADIA) said.

Big producers such as Saudi Arabia, Russia, the United States and others have enough capacity to ensure global supply, analysts at ADIA and Citigroup said.

“You can’t exclude spikes but basically there’s too much oil in the world and that will prevail in the long-term,” Christof Ruhl, head of global research at ADIA said on the sidelines of a financial conference in Abu Dhabi.