Iran Regime Will Not Be Overthrown Quickly, Says Oil Analyst Ed Morse

Описание: Iran’s oil output edged up to a seven-year high last month, yet another illustration of the huge stakes in the country’s war with Israel.
The Islamic Republic pumped an average of 3.48 million barrels a day, an incremental gain on April and the highest since President Donald Trump’s crackdown on the country’s crude trade in 2018, according to the International Energy Agency.
But if any warning against complacency were needed, the figures from the IEA’s monthly report on Tuesday underscore the volumes at risk if oil-export infrastructure or tanker traffic are targeted.
Iran sits alongside the Strait of Hormuz, the narrow Persian Gulf channel through which exports from countries like Saudi Arabia, the United Arab Emirates and Iraq pass — equivalent to a quarter of world oil trade. Tehran has made threats to blockade the waterway in previous years without ever following through.
Iran’s latest gains build on several years of production recovery. Its output rebounded during the administration of former President Joe Biden, as Washington took a more relaxed stance on sanctions while seeking to contain fuel costs. 
For analysis of this news, Bloomberg's Tom Keene and Paul Sweeney speak with Ed Morse, special advisor at Hartree Partners and former head of commodities research at Citigroup.
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