Iran gears up for return to global oil market as US talks advance

US and Iranian diplomats, currently negotiating via intermediary governments in Vienna, have signaled that an agreement is within reach

Iran is preparing to ramp up global oil sales as talks to lift US sanctions show signs of progress. But even if a deal is struck, the flow of additional crude into the market may be gradual.
 
State-controlled National Iranian Oil Co. has been priming oil fields — and customer relationships — so it can increase exports if an accord is clinched, officials said. Under the most optimistic estimates, the country could return to pre-sanctions production of almost 4 million barrels a day in as little as three months. It could also tap a flotilla’s worth of oil that’s