BISMARCK, N.D. - This weekend we saw waivers taken off of the Iranian sanctions. Heartland investors in Bismarck say this move will protect the price of oil.
Eugene Graner, an analyst with Heartland, says that though this move will take Iranian oil off the market, OPEC is prepared to make up the difference.
"OPEC, which cut oil production back on January first, they're going to re-up that here in June, and the talk and chatter has been that they are going to increase their productions. So it's kind of one hand washing the other," said Graner.
Graner predicted that without this move we would've seen oil prices fall when OPEC increased production.