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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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Commodities Briefing - Categorized | Commodity Crisis, Oil more
IEA says more sanctions on Iran may push crude prices higher
| Posted on 14 December 2011 |
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