(Bloomberg) -- Here is a snapshot of what's happening with Iran, its nuclear talks and energy markets.
Latest developments
Talks to revive the 2015 nuclear deal between Iran and world powers will restart on Monday, according to Russia's envoy. While Iran says “relatively good” progress has been made, negotiations to resurrect the deal have been moving toward a state of limbo, forcing diplomats to contemplate outcomes that fall short of fully reviving the accord.
A seventh round of talks ended inconclusively on Dec. 17. U.S. and European envoys warn time's running out to revive the agreement that curbed Iran's nuclear work in return for an easing of sanctions, including on oil exports.
Whether Iran returns to global oil markets is one of the biggest uncertainties for energy traders in 2022.
Latest coverage
- Iran Atomic Deal in Limbo May Be Most EU Diplomats Can Achieve
- Iran Cites ‘Relatively Good' Progress in Nuclear Talks: Tasnim
Oil
Oil edged higher as Libyan supply tightened ahead of an OPEC+ meeting on Tuesday to discuss production policy for February.
Futures in New York advanced toward $76 a barrel in Asian trading after sliding 2.3% on Friday. Libyan output is expected to decline to the lowest level in more than a year as workers try and fix a damaged pipeline less than two weeks after militias shut down its biggest field. The OPEC+ alliance is set to agree to an increase in production next month, a Bloomberg survey shows.
Agenda
- Jan 3: Iran nuclear talks restart
- Jan. 4: OPEC+ meeting
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