A global oil surplus is allowing the United States to accelerate its plan of bringing Iranian crude exports to zero, a U.S. State Department ...
HOUSTON: A global oil surplus is allowing the United States to accelerate its plan of bringing Iranian crude exports to zero, a U.S. State Department official said on Wednesday.
President Donald Trump"has made it very clear that we need to have a campaign of maximum economic pressure" on Iran, Hook said,"but he also doesn't want to shock oil markets, he wants to ensure a stable and well-supplied oil market. That policy has not changed." The U.S. Energy Information Administration has projected that world supply will exceed demand in 2019 by 440,000 barrels per day, Hook said."When you have a better supplied oil market it enables us to accelerate our path to zero. But we also know that there are a lot of variables that go into a well-supplied and stable oil market," said Hook, a senior policy adviser to U.S. Secretary of State Mike Pompeo.
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