US oil production marches on while Iran wildcard looms | The National:
"The steady rise in US oil production continues as the dominant supply side issue for the market, while the big wildcard for Opec policymakers is how to accommodate additional exports from Iran if there is a breakthrough in talks over its nuclear programme.
These two issues, together with the weakening in the global economy, are putting immense pressure on Opec to agree at least the semblance of an export quota-cutting deal in time for the oil ministers’ meeting at the end of next month.
The latest oil status report from the US energy information agency on Friday provided no relief."
'via Blog this'
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