Iran Economy NewsGlobal oil market over supplied - Iran OPEC governor

Global oil market over supplied – Iran OPEC governor

-

Reuters: Iran sees the global oil market as over supplied, despite prices that have been pushed up by upheaval in the Middle East, its OPEC governor was quoted as saying in a newspaper on Saturday.

TEHRAN, April 9 (Reuters) – Iran sees the global oil market as over supplied, despite prices that have been pushed up by upheaval in the Middle East, its OPEC governor was quoted as saying in a newspaper on Saturday.

“Not only is there not a shortage of supply in the oil market but there is 1 million barrels (per day) of excess supply,” Mohammad Ali Khatibi told the Sharq daily in an interview in which he also warned that prices would continue to increase if the Libyan crisis persisted and would “explode” if there were any security problems in Saudi Arabia. (Tehran newsroom; Editing by Robert Birsel)

Latest news

Corruption Allegations Surround Tehran’s Friday Prayer Leader Amid Factional Struggles

Recent reports from Iran suggest that Kazem Sadighi, Tehran's Friday Prayer Imam, has allegedly seized a property valued at...

Housing Accounts for Half of Spending by Tehran Households

Official statistics on income and expenditures of households in Tehran show that urban households in the capital of Iran...

US, UK Ask UN To Prevent Iran from Sending Missiles to Houthis

Representatives of the United States and Britain at the United Nations Security Council meeting called for UN maritime inspection...

Medicine Scarce in Iranian Pharmacies, Abundant in Free Market

The distribution of medicine in Iran faces numerous challenges. Various governments promised to solve these issues at the beginning...

10% of Iran’s Gas Lost in Production and Transmission

The International Energy Agency, states in its annual report that Iran ranks third globally in methane emmissions. According to the...

Iran’s Oil Production Declines, OPEC Reports

The Organization of the Petroleum Exporting Countries (OPEC) has reported a decrease in Iran's oil production for the second...

Must read

Workers demonstrate in Iran after 10 months without pay

Iran Focus: Tehran, Feb. 26 – Workers from Iran's...

Iran confirms six Bahai faithful arrested

AFP: Iran confirmed on Tuesday it has arrested members...

You might also likeRELATED
Recommended to you