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Iranian Output Buckles Under Sanctions Strain, But Iraq Takes Up Slack
Published on Monday, 13 Aug 07:00 am
Iranian output in July slipped below the 3mn b/d mark, as the Islamic Republic conceded its position as OPEC’s second biggest producer to Iraq. But the recovery in OPEC Basket prices to over $105/B will soften the revenue impact of sanctions on Tehran’s finances.
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