Home » 2016 » November » 06

Daily Archives: Nov 6, 2016

Iran to pump 500,000 barrels more a day into the global glut as oil sinks below $28

iran1.jpg

Oil prices reached a 2003 low below US$28 per barrel on Monday because the market braced for a rise in Iranian exports following the lifting of sanctions against Tehran over the past weekend. The United States revoked sanctions that had cut Iran’s oil exports by a couple of million barrels per day (bpd) since their pre-sanctions 2011 peak to nothing ...

Read More »