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Return of Iran crude may spark OPEC ‘price war’

Posted on 07 November 2013

The possible lifting of sanctions against Iran as early as next year - setting the stage for the return of the country’s oil exports - may spark a “price war” within OPEC as rival producers try to compete with heavily discounted crude offered by Tehran.
International sanctions aimed at curbing Iran’s nuclear program have more than halved the country’s oil exports to about 1 million barrels a day since the beginning of 2012. But a recent thaw in relations with the West under a more moderate leadership led by President Hassan Rouhani who took office in August has raised expectations that the embargo may be rolled back………………………………………..Full Article: Source


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