Iran hopes to bring an additional 1 million barrels of oil per day back online in the coming months if a deal can be signed, a volume that would crush oil prices.
Letters to the editor for the March 23, 2015 weekly magazine.
Algeria is in talks with other oil producing countries in an effort to reverse the nearly nine-month plunge in oil prices that have take a toll on major energy exporters.
US crude oil output may fall by half this year, according to a projection by the oil cartel OPEC. That goes against what many predict will be a slowdown in production growth – but not an overall drop.
A domestic oil glut helped bring US crude prices inline with the global benchmark. But in the last month or so, the spread between the two has widened again.