Iran’s return has not changed yet the alignment of forces on the global oil market, said the CEO of SOCAR Trading SA (the marketing arm of Azerbaijan’s state oil company SOCAR) Arzu Azimov in his interview with Bloomberg.

Azimov said that such fears are always exaggerated.
The market has absorbed additional volumes from Iran against the decline in offers from such supplying countries as Libya, Venezuela and Nigeria, according to Bloomberg.
Azimov believes that new Iranian barrels somewhat pushed competing suppliers.