Economics
Americas Will Take Brunt of Any Oil Output Cuts When Iran Returns
- Iran could raise oil output by 800,000 barrels in 2016
- Brent oil seen trading at $45 to $65 a barrel next year
Why Oil Tumbled the Most in Seven Months
This article is for subscribers only.
The Americas will take the brunt of any cuts in oil production as Iran increases output once international sanctions are lifted, according to a report by A.T. Kearney Inc.’s oil and gas consulting practice in Dubai.
North, South and Central American oil production could fall 1.1 million barrels a day by 2020 because of higher costs as Iran’s output climbs, starting with an increase of 800,000 barrels a day next year, Chicago-based A.T. Kearney said in a report overnight Tuesday. Brent crude prices will range from $45 to $65 a barrel next year, according to the report. The international benchmark was trading at about $48 a barrel on Wednesday.