“The global oil market could be braced for more uncertainty in the coming months. The Iranian nuclear deal is likely to see sanctions on exports lifted leading to an increase in Iranian crude oil production. The speed at which these barrels hit the market is currently unclear and foreign investment will be key to unlocking this potential.

“Any incremental rise in production will certainly test the Organization of the Petroleum Exporting Countries' (OPEC) 30 million barrels per day production quota and add a new dimension to the OPEC meeting in June.”