US could ask Russia for more oil as Iran sanctions loom

As it stated in Despite thorny U.S.-Russia relations, the U.S. may press Russia and other producers to expand on their just-announced deal to increase crude output, as the U.S. attempts to cut off Iran from the world oil market. Novak told CNBC on the weekend that the hike was sufficient for now. Analysts expect sanctions against Iran to remove about 500,000 barrels a day from the world market by the end of the year. The sanctions on Iran and the U.S. exit from its nuclear agreement were also opposed by Russia, but sources say Russia was key in swaying Iran. Cohen said, "The broader thing is the sanctions have a potential to get much worse on Russia.

Iran tells Trump: Stop tweeting, it's driving up oil prices

Photo: NurPhoto/NurPhoto Via Getty Images Photo: Twitter Photo: Twitter Photo: Twitter Photo: Twitter Photo: TwitterThe war of words over oil prices continues between U.S. President Donald Trump and Iran, and the latest salvo from Iran is for Trump to stop tweeting. "Your tweets have driven the prices up by at least $10 per barrel," Iran's OPEC governor Hossein Kazempour Ardebili said in a message to Trump, carried by Iranian Oil Ministry's Shana news service. RELATED: US to keep Persian Gulf waterway open despite Iran threats"You are hammering on good guys in OPEC," Kazempour said. GOING UP: Houston energy companies hire as oil prices rise"OPEC has not defined oil prices for the past 30 years," Kazempour said. "You impose sanctions on major producers, founders of OPEC, and yet you are asking them to reduce the prices?!

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