Saudi Arabia and Russia won't add significantly more oil to the market because of a lack of capacity, a top Iranian official said yesterday, predicting prices will probably rise further.
On Sunday, ministers and officials from the Organization of the Petroleum Exporting Countries (OPEC) plus Russia and other allies ruled out an immediate oil-output boost, in effect rebuffing U.S. President Donald Trump's calls for action. The move helped push crude prices to a four-year high near $81 a barrel.
Also underpinning the market is the prospect of lower exports from Iran, OPEC's third-largest producer, due to U.S. sanctions. Iran's OPEC governor, Hossein Kazempour Ardebili, said in comments to Reuters that Saudi Arabia and Russia were unable and unwilling to add more production at short notice. "They are doing little and late, to get prices higher," he said. "They got prices higher and they are going to get them higher still."
Please click to read our informative text prepared pursuant to the Law on the Protection of Personal Data No. 6698 and to get information about the cookies used on our website in accordance with the relevant legislation.
6698 sayılı Kişisel Verilerin Korunması Kanunu uyarınca hazırlanmış aydınlatma metnimizi okumak ve sitemizde ilgili mevzuata uygun olarak kullanılan çerezlerle ilgili bilgi almak için lütfen tıklayınız.
