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Crude oil price rise signals a return to balanced market

  • Iran’s crude oil output averaged 3.8 million bpd in 2017 and fell to 2.7 million bpd by the end of 2018, despite the US granting waivers in early November 2018 to eight of the largest importers of Iranian crude oil
  • If the US does not intend to renew the waivers, Iran’s crude oil output is likely to fall further below 2.5 million bpd
By FAISAL MRZA ·