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Iran's crude production stable as nuclear talks extended

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Report summary

Talks to reach a deal on Iran's nuclear programme have been extended for four additional months. The country's upstream sector is crippled by international sanctions and Tehran is struggling to benefit from the temporary sanctions relief as production remains flat and access to revenues from oil sales is still constrained. A new fiscal regime is to be unveiled at the end of the year in order to attract foreign investment which alongside the lifting of sanctions will be crucial for the country.

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  • Iran's crude oil production ('000 b/d)

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