Iran thinks oil may help push new Iran deal

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Iran thinks oil may help push new Iran deal
Iran’s analysis says that during the Trump era, the White House opted to re-impose oil sanctions to “open more space in the world market in order to sell more oil."
By SETH J. FRANTZMAN
Published: FEBRUARY 7, 2022

Tehran believes the price of oil could help push the US into a new Iran deal, according to Iranian pro-government media. As talk about sanctions and the possibility of a new deal continued this week, Iran’s semi-official Fars News Agency predicted that rising oil prices may be a win for Iran.

“The United States has intensified sanctions on Iran’s oil in two periods of time and tried as much as it can to warn traditional Iranian oil customers from continuing to import from our country,” the recent article said. This coincided with the US using “hydraulic fracturing technology to extract shale oil from major shale fields in that country, especially in Texas, which was referred to as the Shale Boom in the United States,” it said.

Supposedly, the US gains in this technology coincided with sanctions in 2013-2014, according to Fars. “It was this shale boom that, according to statistics, pushed oil prices up from an average of $111 a barrel in 2012 to $98 in 2014 and $ 43 in 2016,” the article said. “The use of hydraulic fracturing technology led to a sharp increase in US oil production, from a mere importer of oil to one of the largest producers.”

more............ https://www.jpost.com/international/article-695734
 
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