After the lifting of the sanctions, Iran is bolstering its oil production levels, which is putting even more stress in the already overflowing global oil pool. Putin’s statement essentially underscrores the fact that since Iran is starting from a low position, and he is clearly sympathetic to it, other player(s) will have to reduce their production levels so as to accommodate Iran without further boosting global oil production levels.
In a development that could potentially see more resistance levels developing in the oil market, Bloomberg has cited Russian President Vladimir Putin as saying that oil output levels can be potentially frozen which could also involve capping Iran’s oil production levels.
“Iran is starting from a very low position, connected with the well-known sanctions in relation to this country. It would be unfair to leave it on this sanctioned level,” said Putin.
Categories: Economy & Finance, Entrepreneurship, Geopolitics, Strategy
manageria.biz 
Leave a comment