In a bid to squeeze US shale producers out of the market, Saudi Arabia has been pumping more oil than ever. Now, with Iran set to re-enter the oil market, things are going to get nasty, says John Stepek.
Energy: the MoneyWeek view
July 2015: Iran could add to supply glut The outlook for oil is increasingly bearish. If negotiations over Iran's nuclear programme are successful, that would lead to increased exports of Iranian oil. With the market already oversupplied, this could push prices as low as $40-$50 per barrel.
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