"According to the U.S. National Foreign Trade Council, in the medium-term, lifting US sanctions and liberalizing Iran's economic regime would increase Iran's total trade annually by as much as $61 billion (at the 2005 world oil price of $50/bbl), adding 32 percent to Iran's GDP.In the oil-and-gas sector, output and exports would expand by 25-to-50 percent (adding 3 percent to world crude oil production).