SA: Iran story pre market
UWTI holding about medium lows now. -0.67 10.93 was lower. Volume highish.
XLE -1.11 68.13 down by dollar unusual for it.
Iran urges OPEC to slash oil output
Oct 19 2015, 06:23 ET | By: Yoel Minkoff, SA News Editor Contact this editor with comments or a news tip
Iran Oil Minister Bijan Namdar Zanganeh has declared that OPEC member states should cut crude output to boost prices to a range of $70-$80 a barrel."No one is happy" with prices at current levels, Zanganeh told reporters in Tehran.Iran will be able to boost oil exports by 500K barrels a day within one week following the removal of sanctions, and could raise exports by 1M bpd within six months after the curbs are lifted.Crude futures -1.1% to $47.18/bbl.ETFs: USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, OLEM
The greatest deception men suffer is from their own opinions.
~ Leonardo da Vinci
