This week Brent crude oil price was volatile. On Tuesday, an agreement reached on Iranian nuclear program lead to the price of oil drop to $56.41 per barrel but it grew later. Initially, the price drop was associated with markets expectations of a sharp increase in oil supply as Iranian Oil Minister declared that the country is ready to produce 1 million barrels a day. However, experts suggest that until the next year Iran’s total output cannot exceed 500 thousand barrels.
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