What OPEC “Production Cut”: Iran, Libya To Boost Production, MS Warns Of Hedging, JPM Cuts Oil Price Target

by Tyler Durden
ZeroHedge.com
Oct 3, 2016

While last week’s OPEC Aligers meeting was supposed to lead a production cut, however we warned that over the most likely outcome would be a boost in production. We didn’t have to wait long and earlier today Iran’s IRNA news agency reported that Iran is presently exporting 2.2mbpd of crude oil but the figure could be well increased to 2.25mmbpd and that Iran would be able to increase its crude oil production to 4.2mbpd. At the same time, Libya crude oil production rose to 500k B/d, and output would liekly reach 600k b/d at end-October.

The Rest…HERE

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