U.S. officials say global oil market ready for end to Iran crude exports

SINGAPORE - U.S. attempts to drive Iranian oil exports down to zero come against the backdrop of a global market that is sufficiently well supplied to avoid price disruptions, senior U.S. officials said on Thursday.

The comments came three days after the United States demanded importers halt oil purchases from Tehran from May - or face punitive action. U.S. President Donald Trump has expressed confidence that Saudi Arabia and the United Arab Emirates would compensate for the shortfall in the oil market.

The oil market says the US officials are lying

LTO cannot replace medium sour… just not the same thing!

Then why are prices slated to go up?

US officials are morons and barely anyone listens to them anymore They dont have the financial clout they think they have anymore

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Trump's crackdown on Iran leaves the oil market vulnerable to price spikesGlobal oil supplies are already tight. A hardline U.S. policy is leaving the market with little cushion to address output disruptions. As intended it looks like Trump's crackdown on Iran will be supported by other oil producers and the market will settle out. Are you working on more FakeNews ?
Source: CNBC - 🏆 12. / 72 Read more »