Iran Framework Agreement – What does it mean to Oil & Gas Practitioners

It is all set, the Iran framework agreement has been completed, ready for the final agreement by mid-year. What does this mean for the Oil & Gas practitioners?

Iran could inject another 1M/bd into the already over supplied market in the next 6 months further pushing down oil prices. This will surely put more projects and explorations on hold. Meaning more job cuts in the future.

With big oil companies entering the Iran O&G soon, it will take some time before it could create significant employment.

Meantime most O&G practitioners will remain unemployed.