“Saudi Arabia has this year increased production by 1.5 million barrels per day, thus effectively destabilizing the situation on the market,” Russia’s Energy Minister Alexander Novak told Rossiya 24 TV channel on Monday.
Novak said demand may meet the supply level in the second half of 2016, adding, however, that an increase in Iran’s oil production after the removal of nuclear-related sanctions against Tehran could further affect the market .... http://www.presstv.ir
