Print Edition - 2017-09-27  |  Money Digest

Oil prices near 26-month high

- Reuters, LONDON

Sep 27, 2017-

Brent oil prices hovered near 26-month highs on Tuesday, supported by Turkey’s threat to cut crude exports from Iraq’s Kurdistan region and signs of quicker market rebalancing. Turkish President Tayyip Erdogan repeated a threat to cut off the pipeline that carries 500,000-600,000 barrels per day (bpd) of crude from northern Iraq to the Turkish port of Ceyhan, intensifying pressure on the Kurdish autonomous region over its independence referendum. This potential loss, combined with 1.8 million bpd of output reductions by the Organisation of the Petroleum Exporting Countries and non-Opec producers, raised concerns of tighter supply. The Iraqi government said it will not hold talks with the Kurdistan Regional Government about 

the results of the referendum. 

Published: 27-09-2017 10:02

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