Oil prices could return to the $100 per barrel mark in the second half of 2023 on the back of rising Chinese demand and expected limited additional supply, Afshin Javan, Iran’s OPEC representative, told Reuters on Wednesday. Iran is exempted from the OPEC+ production cuts and quotas due to the U.S. sanctions on its oil industry and exports. OPEC and OPEC+ did a fine job when they decided at the end of last year to reduce the collective target output, Javan said. OPEC+ decided to cut the target by 2 million barrels per day (bpd) from November…
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