Last week in Geneva, a deal was struck between Iran and six world powers, including the U.S. and the European Union, to relax global trade restrictions on cars, petrochemicals, aviation parts, gold, and insurance for oil cargoes. Additionally, Iran will be permitted to continue exporting oil at current levels instead of forcing further reductions.

With rising global energy demand, the oil and gas industry faces a wide range of logistics challenges. Energy companies also have significant risks related to compliance from both an increasing volume of regulations and the complexity of product classification.