January 17, 2016

KNOWING YOUR ALLIES:

Oil price woes deepen as Iran vows to add 500,000 barrels a day (Katie Allen, 17 January 2016, The Guardian) 

"With consideration to global market conditions and the surplus that exists, Iran is ready to raise its crude oil exports by 500,000 barrels a day," the deputy oil minister, Amir Hossein Zamaninia, was quoted as saying by the Shana news agency.

But Rouhani also suggested the new era could reduce Iran's dependence on oil. He described the deal as a "turning point" and an opportunity for Iran's economy to cut its "umbilical cord" to oil while prices were low.

Posted by at January 17, 2016 8:35 AM

  

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