Iran to stop oil exports if sanctions tighten: rpt - MarketWatch
Iran's oil minister, Rostam Qasemi, said on Tuesday that his nation will
stop its oil exports if the United States and Europe add to the
sanctions they have imposed on the Mideast economy, according to a
report by Bloomberg News. Speaking at a press conference in Dubai,
Qasemi warned that oil prices would spike if Iranian oil exports are
suspended. Iran's economy has been hurt by international sanctions,
leading to a decline in the nation's oil exports. Qasemi said that Iran
is producing 4 million barrels of oil a day, but that figure conflicts
with other estimates of the nation's oil production, according to
Bloomberg. In Monday night's U.S. presidential debate, President Barack
Obama and Republican challenger Mitt Romney both vowed that they will
prevent Iran from acquiring a nuclear weapon. President Obama said that
the sanctions the U.S. and other countries have imposed on Iran have
crippled that nation's economy.
Market tanks and out comes the Iran conspiracies...funny that.
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