EFTA Document EFTA01367351

31 May 2016 Integrated Oil US Integrated Oils Risks to the Outlook Iran and the Rest of OPEC The above analysis rests upon the premise that OPEC (led by Saudi Arabia) will largely keep production flat with current levels. In summary, outside of a change in policy by Saudi. we see two primary risks to our near-term forecast: Iran (a potential reduction in the call on US growth by -450 Mb/d) and Iraq (risks likely weighted toward a reduction in current Iraq production levels). Longer-ter