Iran talks, US sanctions, OPEC+ supply balancing dominate oil market geopolitics

We're sizing up some of the top geopolitical factors influencing oil markets with Paul Sheldon, chief geopolitical adviser for S&P Global Platts Analytics.

The US and Iran entered a fourth round of indirect talks in Vienna this month. Sheldon explains why he still sees good odds of a framework deal emerging within weeks and what that would mean for the US easing sanctions on Iran's oil, petrochemical, shipping and other sectors.

Sheldon also previews OPEC's June 1 meeting, looks further out at the durability of the OPEC+ alliance, and gives his outlook for any easing of Venezuela sanctions.