The global oil supply has been seriously affected by the Russia-Ukraine war. Iran has vast oil reserves, which can be seen as a potential source to bridge the widening demand-supply gap. However, for that to happen, sanctions imposed on the country need to be lifted. Negotiations to revive the nuclear deal the United States had withdrawn in 2018 are underway, and it is hoped that the outcome will be positive. Besides, the Middle East will stand further destabilised if the ongoing talks break down.
ASAD AZIZ
KHUSHAB
