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Iran Kirkuk Oil Swap Yet to Start

Contrary to initial reports oil swap deal is currently on hold

Contrary to reports from SHANA, the Iran Oil Ministry's news agency, the crude oil swap deal between Kirkuk and Iran has yet to begin due to technical issues, according to Iraqi Oil Minister Jabar al-Luaibi.

In addition, al-Luaibi also revealed that OPEC will be meeting on June 22nd, however production increases will not be considered due to the current market stability and strong oil prices.

Source: Reuters

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