Below is the quote from Amit Bhandari
According to Amit Bhandari, fellow, energy and environment studies, Gateway House, “Now that the sanctions are lifted, it will allow Iran to freely sell petroleum. This will further push down the global prices of petroleum, which have already dropped since June 2014. During the period from 2011 to 2014, Iran has reduced its oil production by 700,000 barrels a day. But now they are expected to ramp it up.”