IMF: Iranian oil exports could decrease oil prices by $5 to $15 next year

The International Monetary Fund (IMF) expects that a resurgence in Iranian oil exports in 2016 could push crude prices down by $5 to $15 a barrel, deepening the current market downturn, according to Fuel Fix, citing an IMF report.

After the lifting of Western sanctions, Iran, which has the world’s fourth-largest oil reserves, expects to pump an additional 500,000 barrels a day into international markets next year. Iran’s production would increase the oil market oversupply and cause a further decline in global oil prices.

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