The Trump administration’s deal with a private oil company to increase oil production in the South American country could take many years to come to fruition.

© The New York Times

Oil prices are likely to remain volatile as long as the United States and Iran are unable to resolve the status of the Strait of Hormuz.

© The New York Times

The possible reopening of the Strait of Hormuz may not prompt China to return quickly to prewar levels of oil purchases from the Persian Gulf.

© Hector Retamal/Agence France-Presse — Getty Images

The preliminary U.S.-Iran deal temporarily waives restrictions that have limited the country’s oil sales and how much money it has been able to make from those exports.

© Atta Kenare/Agence France-Presse — Getty Images

An analysis of oil export data offers clues about which nations have benefited from higher prices, and which have lost a lot of revenue.

© The New York Times