A way the Iran nuclear deal could benefit Israel

The nuclear deal signed between world powers and Iran this week was greeted with skepticism and denunciations from Israel, where it is almost universally seen as a strategic threat. But there is one area where even Israel may benefit from the deal: the price of oil.

Since the major sanctions were imposed on Iran’s economy, specifically its oil exports and the means of financing them, its oil exports have roughly halved, according to the Economist Intelligence Unit. By next year, it estimates, Iran will put another 700,000 barrels of oil per day back on the global market. Others have put the estimate closer to a million, The JPost reported on Friday.

Even as it takes time to ramp up its production and await the final sanctions to lift, Iran is reportedly sitting on 30 million barrels of extracted oil that it’s been waiting to sell.