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Commodities Briefing - Categorized | Commodity Crisis, Oil more

IEA says more sanctions on Iran may push crude prices higher

Posted on 14 December 2011

Tougher international sanctions on Iran may lead to higher global crude prices and a decrease in output capacity for OPEC’s second-largest oil producer, the International Energy Agency said.
A proposed European Union ban on purchases of almost 600,000 barrels a day of Iranian crude would “likely” force refiners in the Mediterranean region to pay more for oil from other suppliers, the agency said……………………………………….Full Article: Source


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