Oil

Oil: Iranian OPEC envoy assali says iran will continue raising production until it regains pre-sanction levels

http://portal.ransquawk.com/headlines/iranian-opec-envoy-assali-says-iran-will-continue-raising-production-until-it-regains-pre-sanction-levels-17-02-2016

This follows the conditional agreement by Saudi Arabia, Russia, Qatar and Venezuela to freeze production at Jan levels but contigent on other major producers agreeing. We see the deal more as a political statement and attempt by the Saudis to sabotage the re-emergence of Iranian oil into the market after the lifting of sanctions. It is no surprise that Iran is not abiding by it.
2:52:38 PM: Tan Chin Poh: Crude oil is currently trading below US$30 at US$28.96 a barrel.