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Iran: Crude Market Oversupplied, Balance to be Restored

Iran's oil minister said on Monday the oil market was oversupplied but predicted balance between demand and supply will be restored, Iranian state television reported on Monday. "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, without saying when that may happen. A Reuters Survey on Friday showed the Organization of the...

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