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The Oil Patch

which Oil Minister Rostam Qassemi this week said (again) was a fair price for oil.  That price is well below what prevailed last year, as seen in the monthly averages (below).  But it is well above the average of earlier years.  Despite the sanctions crunch that has depressed exports by almost 60 percent, the Islamic Republic should still be able to function with oil at $100 a barrel.

 

 

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