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Iran says crude market oversupplied, balance expected to be restored

By REUTERS
ANKARA - Iran's Oil Minister says the oil market is oversupplied but predicted balance between demand and supply to be restored, Iranian state television reported.
"The oil market is oversupplied now but there are expectations that there will be balance between demand and supply in the market," Bijan Namdar Zanganeh was quoted as saying by Iran's state TV on Monday.
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