Oil to stay below $70 per barrel if Iran sanctions lifted, says HPCL
NEW DELHI (Reuters) – Indian state refiner Hindustan Petroleum Corp said on Friday it expects global oil prices to ease and stay below $70 per barrel if the United States lifts sanctions against Iran.
India, the world’s third largest oil consumer and importer, halted oil imports from Tehran in 2019 as a temporary waiver granted to some countries expired. Former U.S. President Donald Trump abandoned the 2015 Iran nuclear deal in 2018 and reimposed sanctions.
Iran and world powers have been in talks since April onreviving the 2015 deal and the European Union official leadingthe discussions said on Wednesday he was confident an agreement would be reached.
