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Published on December 7th, 2012 | by Jasmin Ramsey

Can the world live without Iranian oil?

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Iranian oil expert Dr. Sara Vakhshouri, featured this week at the Atlantic Council, asks whether the world can live without Iranian oil and if Iran can survive under further severe economic sanctions. The answer, she says, depends on the timeframe in consideration and a multitude of other factors, such as how Iran responds to current and upcoming challenges — like the international sanctions regime and domestic instability  – that drive potential customers and investors away.

At present, Iran would seriously struggle to keep its head above water if the price of oil dropped substantially below $100 per barrel where it’s remained mostly constant, says the former advisor to the National Iranian Oil Company International (NIOCI). As to the question of whether the world can survive without Iranian oil, Vakhshouri suggests it likely will in the near future; it has already started adjusting accordingly with increased Saudi output and Iraqi production, Canadian and US domestic production, and other factors such as a global decrease in demand.

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About the Author

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A multilingual Iranian-born journalist, Jasmin Ramsey is the editor and manager of the well-known U.S. Mideast policy site, LobeLog, and the Washington correspondent for the international news wire service, IPS News. Under her leadership LobeLog was recognized by the Economist as an essential stop for Iran coverage. Ramsey was also named one of the Guardian’s top ten Twitter accounts to follow on Iran in 2014. Her current work focuses on U.S.-Iran relations, U.S. foreign policy, and mideast affairs. You can email her at jasmin[dot]ramsey[at]gmail[dot]com.



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