Iran Oil Minister Talks about Early End to OPEC Deal

[Marina Schwarz + 1,576]

“If we want to make a decision, it has be at the right time, which is June -- when we’ll next meet,” Zanganeh said. “But my impression is that OPEC members are not after very expensive oil because very expensive oil leads to mid-term price fluctuations.” Add to this the news that Russia's dollar-buying spree has hit a record as it seeks to keep the ruble low. It's fascinating: what's the lesser evil for OPEC, US drillers pumping over 10 million bpd and "stealing" market share or trying to make ends meet with lower prices?