Reuters reports comments from the Iranian OPEC governor Hossein Kazempour, as he says that the US sanctions on Iran are likely to cause a steep increase in oil prices.
Additional Comments:
Other producers in OPEC can’t easily replace Iran’s oil exports by November.
They would have to tap their reserves to make up for Iran’s missing barrels.
It would be a short-term solution that would lead to costlier crude.
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