EIA: World Can’t Afford to Lose Iran Oil

A disruption in Iran’s crude oil exports because of a dispute over that country’s nuclear program would further crimp the already tight global oil market and lead to higher petroleum prices, the head of the Energy Information Administration warned on Tuesday.

“The market is so tightly balanced, clearly, we can’t afford to lose a large supply of crude to the market,” EIA chief Guy Caruso told Reuters in an interview.
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