Iran Warns Oil Will Slump to $40 If OPEC Fails to Cut Production
A crew man stands on the deck of an crude oil tanker as it sails through the Persian Gulf, Iran. (Photographer: Ali Mohammadi/Bloomberg)

Iran Warns Oil Will Slump to $40 If OPEC Fails to Cut Production

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(Bloomberg) -- Oil prices will slump to $40 a barrel unless OPEC and its allies cut output significantly, and the group is unlikely to succeed in reviving the market, an Iranian official said.
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