The future success of the Iranian Petroleum Contract will be a key aspect in boosting production
Global oil markets
remained bearish on Wednesday, with prices continuing to weaken
following a six-week rout caused by global oversupply and
falling demand from US and Asian economies.
US benchmark West Texas
Intermediate (WTI) declined $0.20 to $42.42 a barrel, on
Wednesday, while Brent crude fell $0.10 to $48.81 a
– in part the result of the US shale oil boom
– looks unlikely to abate, at least not any time soon,
with the expected fall off in US rig count yet to materialise,
and Iranian oil likely to enter the market over the next
But how is the prospect
of the increased supplies affecting the oil futures
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