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IEA warns on Iran oil sanctions

Posted on 14 June 2012

The global oil market is looking “better supplied” than earlier this year thanks to a ramp up in OPEC production, but the impact of sanctions and a European Union embargo on Iranian oil raise the risk of a tighter market from the summer onward, the International Energy Agency said Wednesday.
“The market can clearly now be characterized as ‘better supplied,’ but ‘oversupplied’ looks something of a stretch given the myriad uncertainties that lie ahead for the summer,” said the IEA, which represents the interests of major energy-consuming rich countries………………………………………..Full Article: Source


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