Iran and the OPEC Follies -- What a Difference a Day Makes
Huffington Post / Raymond J. Learsy

The Financial Times reported that a senior Iranian government official acknowledged that there exists a "global shortage in the supply of crude" and promised (I repeat the word "promised") that OPEC will keep the market in balance. This from Mohammad Ali Khatabi, an OPEC governor who serves as Iran's permanent representative to the organization. He went on "... OPEC will continue its onerous duty, which is to create balance in the market."

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