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Iran crisis overturns OPEC equation as Saudis signal more supply



The international nuclear agreement with Iran could not be the only agreement that has been decoded by US President Donald Trump. On Monday, Saudi Arabian Energy Minister Khalid Al-Falih reiterated his 19659003 mantra that the production of OPEC and its allies must continue. Within 48 hours, the kingdom had increased the prospect of increasing production.

Between the two statements came Trump's decision to abolish the nuclear deal with Iran and impose sanctions on the world's fifth-largest oil exporter.

Iranian sanctions could completely change the OPEC meeting in June, "said Amrita Sen, chief oil analyst at London-based consulting firm Energy Aspects Ltd." It is no longer about the expansion of production cuts, but about when production can be gradually increased. "[19659002] Over the past 16 months, the Organization of Petroleum Exporting Countries, Russia and other allies have curtailed production to eliminate global oversupply and have largely achieved this goal, but the Saudis – keen on higher prices – have insisted The curbs should further reduce oil supplies.

This policy could stall after Trump's Iranian sanctions, although it is still unclear how much he intends to limit Iran's oil supply, but most analysts predict a decline

EU Resistance


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