Iran has reached out to the oil multinationals in preparation for the day when the international community lifts sanctions that have slashed its oil exports and revenues. But industry officials and experts do not see a significant change to the oil supply balance in the immediate future and say it will take time for Iran to restore output to pre-sanctions levels, even after the punitive measures imposed over its nuclear program are scrapped.
The key question is whether OPEC giant Saudi Arabia, angry over the interim nuclear deal that Tehran concluded with world powers in Geneva on 24 November, will make way for additional Iran oil when it comes. (CONTINUED - 1866 WORDS)
