Oil bounces as Iran signals support for OPEC freeze action
Oil prices rose more than 1 percent on Tuesday, reversing early losses, after Reuters reported Iran was sending positive signals that it may support joint OPEC action to prop up the market. Iran, the third-largest oil producer in the Organization of the Petroleum Exporting Countries, has been boosting output since the lifting of Western sanctions in January. Although it has not said if it will join an effort to curb production at a meeting of OPEC and other producers in September, Tehran appears to be more willing to reach an understanding ...
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