From Currency Wars To Oil Wars - OPEC Ups Production To 3 Year Highs As Iran Output Surges | WHAT REALLY HAPPENED

From Currency Wars To Oil Wars - OPEC Ups Production To 3 Year Highs As Iran Output Surges

As China takes the currency wars to the next level, so OPEC, not to be outdone, rotates the oil war volume to 11. As Bloomberg reports, OPEC pumped the most crude last month in more than three years as Iran restored output to the highest level since international sanctions were strengthened in 2012. The response - as one would expect - is a plunge in crude prices, erasing all the ridiculous algo-driven gains of yesterday, pushing WTI back on the verge of a $42 handle.

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