Iran Sends Market Share Warning Ahead of Opec Meeting

摘要

Iranian Oil Minister Bijan Zanganeh claims Iran will double its oil exports in two months if economic sanctions imposed against Iran are lifted, a position that sends a bearish message to sliding oil markets already concerned that future Opec and non-Opec supply will outpace demand. The bold claim comes a week before Opec's Nov. 27 meeting at which some members are hoping to win a deal to cut production from the market to halt any further price decline. Benchmark Brent is trading below $80 per barrel, down some 30% since June.