The Inevitable Recovery Of Iran’s Oil Industry

Iran’s recent hydrocarbon agreement with Azerbaijan is the latest in a string of developments that demonstrate the country’s determination to overcome U.S. sanctions. Its plans to boost oil production to 5 million bpd and its improving trade relations with China suggest that Iran will not be back by Biden for much longer.  Iran and Azerbaijan are expected to finalize a number of energy deals that would see joint development of a new oil field off the coast of Iran, adding to the energy cooperation between the two states. In 2018,…