Oil dips as Iran says no plan to freeze output

LONDON:– Oil prices slipped Monday after Iran said it had no plans to join any output freeze by other major producers. Despite a recent rebound, world crude prices are still at less than half of their levels of June 2014 because of a supply glut, partly fed by Iran's return to world markets in January after the lifting of nuclear-linked Western sanctions. "The government has no plans for the time being to freeze or interrupt its increase in oil output and exports based on plans that are

being carried out," National Iranian Oil Co. –AFP

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