May 13, 2016
KNOWING YOUR ALLIES:
Higher than expected Iranian oil production has helped stabilize the global oil market (AP, May 12, 2016)
The International Energy Agency said Thursday that higher than expected Iranian oil production has helped stabilize the global oil market by offsetting concerns generated by wildfires in Canada and violence in Nigeria.In its monthly report, the Paris-based IEA said global oil output rose to 32.7 million barrels a day in April, a figure boosted by Iran as its production increased faster than expected following the lifting of international sanctions earlier this year.
Posted by Orrin Judd at May 13, 2016 3:03 PM