Oil prices could drop by as much as $15 per barrel of crude if the Iran nuclear agreement becomes final.

Who knew this agreement could be beneficial to our pocketbooks?

This bit of news comes from the Energy Information Administration and it portends even greater savings for American motorists — such as yours truly — who are continually looking for more disposable income.

http://www.msn.com/en-us/money/markets/iran-nuclear-deal-seen-cutting-oil-prices-by-dollar15-a-barrel/ar-AAayCbt

“If a comprehensive agreement that results in the lifting of Iranian oil-related sanctions is reached, then this could significantly change the … forecast for oil supply, demand, and prices,” the EIA said in a report. “However, the timing and order that sanctions could be suspended is uncertain.”

The key, of course, is the sanctions issue. Iran has a good bit of oil. The sanctions imposed by much of the world have prevented Iran from pumping and selling oil around the world. Suppose the sanctions are lifted and Iran returns to the energy-producing community of nations, thus putting more oil on the market.

Whether the sanctions get lifted in a timely manner could have an impact on the price of crude oil worldwide. The lifting of those sanctions, of course, depend entirely on Iran’s ability to comply with the agreement announced April 2 by the United States and its negotiating partners.

The framework agreement reduces Iran’s nuclear production capability significantly, with the intent of prevent the rogue nation from producing a nuclear bomb — which it has all but threatened to use against Israel. The Israelis, naturally, take those threats quite seriously — and those threats have contributed to Israel’s outright opposition to any deal with Iran.

Let us not forget that delays could come from the U.S. Congress, which comprises members who act as though they’d rather bomb Iran than talk to it.

The deal needs a chance to work. If it does, then one leading energy agency thinks oil consumers all around the world are going to reap some benefit.