EnergyWatch

OPEC output may be stretched to limit by supply crises, IEA says

Supply crises involving Venezuela and Iran could force OPEC members to push their output to then limit, says the International Energy Agency.

Photo: Bloomberg

OPEC's Gulf members may need to pump almost as much crude as they can to cover swelling supply losses from Venezuela to Iran and beyond, the International Energy Agency said.

Saudi Arabia might have to draw harder than ever before on its spare production capacity as a spiraling economic crisis in Venezuela, renewed US sanctions on Iran and disruptions in Libya strain global markets, the agency predicted.

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