Report: Oil Market Oversupply Dashes Iran’s Economic Hopes After Lifting of Sanctions
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by News Editor
Iran is about to get a refresher course in the capricious nature of the oil market and the durable nature of economic sanctions.
When US and other international sanctions were tightened in 2012 and took nearly 700,000 barrels a day of Iranian crude oil off world markets, the price of an average barrel of OPEC oil ran $109.45.
Read full story at The Washington Post.