Voters picked Ebrahim Raisi, seen as the more hardline candidate, to become Iran’s next president in Friday’s election.
“Having Iranian oil back in the market will be absorbed by demand if it moves to the second half or last quarter of 2021,” Vakhshouri said of the potential timing for increased crude exports from the Islamic Republic.
Oil prices came under pressure earlier this year from concerns that a quick revival of the nuclear deal could bring Iranian barrels flooding back to the market.
The Organization of Petroleum Exporting Countries, which includes Iran, and partners such as Russia have cut output to make up for a drop in demand due to the coronavirus pandemic.