US Energy Secretary Forecasts Iran's Oil Exports to Return to Pre-Conflict Levels

Deep News00:20

US Energy Secretary Chris Wright stated on Thursday that Iran's oil exports will return to the levels seen during the Biden administration's pre-conflict period, following the lifting of relevant sanctions by the United States.

During an interview with CNBC's Pippa Stevens at the Idaho National Laboratory, Wright remarked that the scale of Iran's oil exports will revert to the levels maintained throughout the Biden administration's tenure.

Wright indicated that even during the period when US sanctions were in effect, Iran's daily oil exports ranged between 1.5 million and 2 million barrels. With the recent removal of these sanctions, Iran can now export crude oil not only to China but also to a broader range of regions, and transactions can be settled in US dollars.

Wright clarified, "We have only granted Iran a certain degree of trade freedom, but the scope is quite limited. The United States has not made any significant concessions."

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