Oil supplies by the national iranian oil company in August increased to 2.52 million barrels per day, the International Energy Agency (IEA) wrote in its report. Who buys Iranian oil?

At the same time, the agency notes that talks on reopening the 2015 Iran nuclear deal have stalled after the EU put forward a “final text” a month ago. “U.S. Secretary of State Anthony Blinken said Sept. 12 that Tehran’s response to the EU proposal makes the prospect of a short-term agreement unlikely,” the IEA recalls.

“Iran could be a source of significant supply if sanctions were eased (our baseline scenario assumes sanctions are not lifted), with 1.2-1.3 million bpd of oil gradually recovering in about six to eight months,” the agency’s experts say.

Earlier, we reported that Morgan Stanley and UBS cut long term oil price forecasts.