Threat of rising oil price adds to frustration for crisis-hit supply chain chiefs
New warnings from the World Bank of surging oil prices, adding to the continuing instability ...
The logistics industry is more than aware of the inexorable rise in oil prices. But OPEC today moved closer to boosting oil output by a million barrels a day – or 1% of global supply – in an attempt to cool oil prices. Iran, facing “crippling” US export sanctions, had been against raising output when its own exports look set to fall by a third by the end of this year. However, it looks as if the other OPEC members have found a compromise with Iran. Reuters reports.
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