Market Shouldn’t Fear Influx Of Iranian Crude Oil

Fears that Iran will flood the oil markets with its crude now that Joe Biden is set to take office are unfounded, OPEC’s Secretary General Mohammed Barkindo told Gulf Intelligence Global UAE Energy Forum 2021 on Wednesday. “Rest assured, there is no need for the market to be of heightened concern at the moment,” Barkindo said in an effort to calm those fears, adding that they were following the developments closely. Iran’s oil production is not currently limited by OPEC’s production cut agreement—only by U.S.…