S&P Global Platts’ Calvin Lee speaks on extension of crude oil due to Iran’s supply being cut off

Calvin Lee, Editorial Director, Asia & Middle East Oil Markets of S&P GLobal Platts speaks on the crude conundrum. He says, ‘There is a suggestion that OPEC, as well as non-OPEC countries, are expected to extend the agreement that they have in place. Heavy crude prices are showing a really strong market structure. For Brent, the market is showing or demonstrating the value that there is an expectation that the agreement will be extended.’

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