Headlines across Reuters
Iranian acting deputy oil minister speaking in Moscow
- Iran can not cut oil production as it needs t regain its market share
And they're in a rush on that upping supply by over 500,000 bpd since sanctions were lifted last month.
"The price completely depends on the market situation and we have a surplus of supply right now. Maybe some countries must cut their share and many must get back their share"
The comments are a little different from those of oil minister Zangeneh who yesterday said that Tehran was ready to negotiate with Saudi Arabia over current global conditions.
Oil still on a wobble caught between session lows and highs with Brent $30.94 and WTI $28.50
