Oil Prices Crash As OPEC Prepares To Boost Supply
Oil prices finally fell on Friday as markets brace themselves for more OPEC supply following Trump’s decision not to extend the Iran sanctions waivers. Energy Alert: Oilprice.com has officially launched the much-anticipated Global Energy Alert service , a service that includes weekly intelligence reports and our exclusive Top 50 Oil & Gas Companies In 2019 report series. Sign up today for your risk-free trial. Friday, April 26, 2019 Oil prices fell sharply in early trading on Friday as the market reassessed the impact of U.S. sanctions on Iran. Analysts argue that Iran may succeed in mitigating the impact, maintaining some degree of exports. Also, expectations of OPEC swinging into action are also on the rise. Oil prices fell nearly 2 percent on Friday. Spare capacity in spotlight after Iran sanctions. While Saudi Arabia and the UAE have apparently indicated a willingness to offset Iranian disruptions, it would come at the expense of spare capacity. OPEC has about 3 mb/d of