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Iran Oil Minister: Saudi, UAE Higher Oil Production Capacity Overstated

For every barrel the Saudis and other producers pump to offset the drop in Iran’s exports, they have one less barrel at their disposal when an unplanned outage hits the market
Iran Oil Minister: Saudi, UAE Higher Oil Production Capacity Overstated Iran Oil Minister: Saudi, UAE Higher Oil Production Capacity Overstated

Oil Minister Bijan Namdar Zanganeh says Saudi Arabia and the United Arab Emirates presumably overstate their ability to produce higher levels of crude oil as demanded by the United States.
“I presume they (Saudi Arabia and the UAE) are exaggerating their oil production capacities,” the minister said. 
IRNA further quoted him as saying that “The US oil sanctions are not a bluff and reflect (the growing) animosity toward our country.”  
The minister made the statement in response to western reports and oil analysts that the two Arab states and close US allies can and will fill any gap caused by a tightening of US sanctions on Iranian oil exports. 
A senior US administration official said Monday President Donald Trump was confident Saudi Arabia and the United Arab Emirates would fill any gap in the market. 

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