Market inclined to low prices: Iran
A senior Iranian oil official said predicting the changes in global crude prices is ‘quite difficult’. ‘This is despite the fact that market indices, including supply and demand, speak of a bearish market in the coming months,’ Mohsen Qamsari, head of international affairs of the National Iranian Oil Company (NIOC),…
Oil prices may fall further this year: IEA
The International Energy Agency says oil prices may fall further this year due to low demand, warm winter weather and an oversupply of crude. The organization advises countries on energy policy. It said in its monthly report Tuesday that excess global supply may reach 1.5 million barrels per day during…
