The oil price will tank big time upon any news or progress of an...

The oil price will tank big time upon any news or progress of an Iran deal. Russia exports 5 to 6 million barrels per day. China has said it will still take its 2m barrels per day from Russia (so far that's ok it seems?). So the Russian sanctions will make a supply deflict of about 3-4 million barrels per day. Iran has said it will increase output to 3.9 million barrels per day once their sanctions are lifted. The Saudis, US shale oil producers and others will easily make up the rest. Then there is the big switch to EVs which will be ramped up everywhere among high demand. 50% of cars and trucks could be EVs within 5-10 years. So the future for oil is not good - so expect oilers to tank too. Lithium, copper, nickel, graphite & RE producers will go gangbusters because a lot of that stuff goes into each EV. And don't forget the home and power producer battery market.

https://www.reuters.com/business/energy/iran-can-reach-top-oil-output-2-months-after-nuclear-deal-oil-minister-2022-03-03/