Please click here to read or download the latest EIA report for the week ending July 10,2015. While US commercial crude oil inventories decreased by 4.3 million barrels down to 461.4 million barrels, US crude oil refinery inputs increased to 16.8 million barrels per day and US crude oil imports increased to 7.4 million barrels per day.

It’s been quite an eventful week for the oil industry as the Iran nuclear deal was reached on Tuesday as Iran signaled its intent to come back to the oil market. But experts are clear that Iran doesn’t have great reserves of crude oil supplies to throw on the market. Tehran has stored around 25 million barrels of oil mainly consisting of condensate—an ultra-light from of crude that is “not easy to sell,” according to Amrita Sen, chief oil analyst at Energy Aspects.

So what does this mean for oil prices over the next few months?

While the price movement on Tuesday wasn’t dramatic, analysts said investors should look toward the price dropping in 2016. Wednesday brought a significant drop in oil prices, and they are remaining low and relatively stable throughout Thursday. U.S. oil futures settled at a more than three month low Wednesday, plagued by persistent worries over strong crude production as traders assessed the latest weekly petroleum-supply update and the impact of Iran’s nuclear deal.