US AUTHORITIES CONTINUE TO SEARCH FOR ALLIES TO CONTROL OIL PRIC

Recently, the media have been increasingly discussing closed meetings between the US and Iranian authorities, which take place with the mediation of Oman and Qatar. It is reported about stable negotiations between the financial departments, thanks to which part of the previously blocked Iranian funds in foreign banks has already been returned. Thus, experts note that the process of smooth lifting of sanctions against Iran has begun, which may eventually lead to a new agreement on the “nuclear deal.” The country will be ready for negotiations on this issue only if restrictions are completely lifted, and official Washington is interested in it. The main reason for US loyalty lies in the prospect of cheap Iranian oil entering the market, which, with its volumes, will help offset the recent production cuts adopted by OPEC+ since its releases from the American strategic reserve are not enough to compensate for the fall in oil prices.
This week, analysts do not expect an increase in fuel inventories in the US: a report from the American Petroleum Institute (API) is projected to reflect a decrease in the figure by 0.710M barrels, while statistics from the Energy Information Administration of the US Department of Energy (EIA) suggest an increase in the value by 1.482M barrels, higher than the previous contraction by 0.451M barrels.