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Iran warns of a "price war" following a Saudi pledge to raise oil production as government...

Iran warns of a "price war" following a Saudi pledge to raise oil production as government stockpiles hit the market. Markets are yawning at both the Saudi pledge and the SPR release, sending WTI oil (USO) back near the $100 mark, and Brent crude (BNO) back towards $120.
Comments (1)
  • PeakOiler
    , contributor
    Comments (295) | Send Message
     
    The Saudi's have been pledging this for three years and haven't been able to ramp exports at all. They need all spare capacity to fuel their own growing population's needs.
    7 Jul 2011, 10:58 AM Reply Like
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