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Article: Iran, Iraq fighting upsurge seen boosting oil prices. (Iraqi-Iranian Conflict and petroleum industry)
- Article from:
- The Oil Daily
- Article date:
- August 28, 1986
- Author:
CopyrightCOPYRIGHT 1986 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Iran, Iraw Fighting Upsurge Seen Boosting Oil Prices
NEW YORK -- Oil prices, which have risen more than $4 a barrel since OPEC agreed to cut production, will go higher as traders speculate on the outcome of renewed and more itense fighting on the Mideast, analysts said.
An upsurge in fighting between Iran and Iraw, whose war is entering its seventh year, has supported oil prices over the past two weeks, they said.
Expectations of a "final offensive" planned by Iran to break the deadlock by a decisive land victory, fueled speculation prices will rise to $18, analysts said.
Oil industry sources and political analysts following the Middle ...