The price of Brent crude dropped to under $106 a barrel on Wednesday based upon approaching developments in the Iranian energy sector. If Iran halts its nuclear programs, the country’s energy market will be open for international trade on January 20th after more than 20 years of Western sanctions. Iran’s exports are currently capped at a million barrels per day, but the country’s vast reserves could allow it to increase its contribution to global supply, and eventually drive down prices.
British Petroleum estimates that Iran has 33.6 trillion cubic meters of gas in its reserves, and when an interim agreement was announced back in November, the price of Brent crude took its biggest drop of the month, falling three percent in a single day.
The Next 25 Years of Gas Profits
If sanctions are eased on Iran, and the U.S lifts its own ban on exporting crude oil, the oil and gas market is going to change dramatically. However, there’s only one source of energy that’s actually poised to grow during the next thirty years: Natural gas. Find out what the landscape will look like, and how you can capitalize on it.