Iranian crude could be set to return to the market just in time to help replaced sanctioned Russian barrels, said a top commodity data and analytics firm.
Russian crude exports could decline by around 1.5m barrels per day (bpd) in the coming weeks Kpler told delegates at the Baltic Exchange freight and commodity forum at Singapore Maritime Week.
“We expect a deal [on Iran] to happen in May and therefore we think there is likely to be a boost in output,” said Kevin Wright, lead analyst in Asia Pacific for Kpler.
