Quotes from the news wire:
Those biggest refiners and firms [ who do business with Iran ] are going to pull back significantly and smaller traders, smaller refiners, with less exposure to Eurasia Group law enforcement will step in and buy Iranian oil, if they are designated or sanctioned as a practical matter it won't be as significant for them.
The government needs to invest about $15 billion per year to maintain current production (2.4 million bpd), and mounting problems will probably lead to a decline of 100,000-150,000 bpd this year, barring a meaningful recovery in oil prices or fresh loans from China in the second half of the year, scarce foreign exchange will probably force the state to default later this year, most likely in the fourth quarter.
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