Iraq is ready to boost oil exports by 250,000 barrels a day to compensate for any shortfalls once US sanctions waivers for Iranian oil end, a government official said Monday.
The US last year reimposed tough sanctions against Iran’s energy sector but granted select countries six-month waivers to continue importing oil products from Tehran. Those exemptions will end in early May, the White House announced on Monday.
US President Donald Trump said that Saudi Arabia and other members of the Organization of the Petroleum Exporting Countries (OPEC) would “more than make up” the resulting difference in the oil supply. Read More
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