Oil Daily | Iran's Nuclear Moves Heighten Oil Export Concerns Amid Potential U.S. Sanctions Reinstatement

【Oil-Producing Countries Dynamics】

Iran plans to boost its uranium enrichment following an IAEA resolution urging increased cooperation, raising the risk of U.S. sanctions on Iranian oil exports under Trump's administration. Analysts warn of potential global oil supply disruptions and geopolitical tensions escalating over Iran's nuclear program.

Tehran's reaction to the IAEA's resolution has increased concerns about potential disruptions in Iranian oil exports, with talks scheduled between Iran, the UK, France, and Germany to discuss the nuclear program. Markets are watching geopolitical developments and potential involvement of more countries in conflicts.

【Latest Oil Policies】

The International Atomic Energy Agency's resolution orders Iran to enhance cooperation, despite Tehran's intentions to enrich uranium further. This development could lead to increased enforcement of sanctions on Iran's oil exports once Donald Trump assumes office.

【Industry News】

Goldman Sachs forecasts Brent crude to average between $70 and $85 per barrel next year, citing spare production capacity as a price limitation factor. The bank warns of potential price spikes if U.S. sanctions on Iran tighten, disrupting up to 1 million barrels daily of Iranian supply.

【Company News】

ONEOK has acquired EnLink Midstream's remaining assets in the Permian for $4.3 billion in stock, enhancing its presence in the shale region. This follows earlier investments in EnLink and Medallion Midstream and reflects the recent merger and acquisition trend in the U.S. oil and gas industry.

Energy infrastructure company ONEOK continues its expansion with acquisitions, including Magellan Midstream for $18.8 billion. The trend of mergers and acquisitions also sees Energy Transfer acquiring Crestwood Equity Partners and Sunoco LP buying NuStar Energy, highlighting ongoing midstream sector consolidation.

Occidental completed the sale of a 49% stake in Western Midstream for $700 million, reflecting the ongoing divestment trend in the oil and gas sector.