OPEC Production Problems Push Oil Prices Higher

News of an 'imminent' nuclear deal with Iran sent oil prices lower this week, but the reality of OPEC underproduction soon shifted sentiment and sent prices higher on Friday.Friday, February 11th, 2022Wherever you looked this week, it seemed that Iran was at the center of all oil market news. The prospect of a breakthrough in the nuclear deal, a breakthrough that was assumed to be imminent by several participants, drove oil prices lower over the week after last week’s bull run to mid $90s. The fact that Iran’s crude would take several…