US says oil market could cope with more Iran export cuts

By REUTERS
June 30, 2013 18:20




VIENNA - US Energy Secretary Ernest Moniz said on Sunday he believed the oil market would be able to cope with any further reduction of Iran's oil exports from the tightening of sanctions on Tehran over its nuclear programme.

Iranian crude exports are not now a "dominant player in the market", and there is increased production in the United States and in Iraq as well as substantial reserve capacity in some OPEC producers, Moniz said in an interview.

"So I would think that with further sanctions, the markets could be quite resilient to that," Moniz said while in Vienna to attend a nuclear security conference.


Related Content
Breaking news
December 13, 2017
Democrat wins US Senate seat in Alabama in setback for Trump

By REUTERS

Israel Weather
  • 8 - 22
    Beer Sheva
    13 - 21
    Tel Aviv - Yafo
  • 11 - 17
    Jerusalem
    11 - 18
    Haifa
  • 13 - 23
    Elat
    12 - 23
    Tiberias