July 14. 2015 was a turning point for the Islamic Republic of Iran as the US and the European Union reached an agreement through which Iran would curb its nuclear program in return for getting relief from the western sanctions imposed on its financial and energy sectors. The economic restrictions that were imposed on Iran in 2012 are expected to be lifted in early 2016. Upon alleviation of the sanctions, Iran plans to immediately increase its production by 500,000 barrels per day followed by an additional 1 million barrels per day in March 2016. With most of the analysts and trade pundits predicting a bearish trend for oil prices in 2016, does Iran have a specific...
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