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OPEC could decide to raise oil output as soon as June to cool the market and due to worries over Iranian and Venezuelan supply and after Washington raised concerns the oil rally was going too far, OPEC sources familiar with the discussions told Reuters last month. OPEC meets next on June 22 to set oil policy.

 Iran’s Atomic Energy Organisation spokesman Behrouz Kamalvandi said Iran will inform the U.N. nuclear watchdog in Vienna on Tuesday over its start of a process to increase the country’s uranium enrichment capacity. He said Iran had the capacity to accelerate production of centrifuges, which are used to enrich uranium. Iran’s Supreme Leader Ayatollah Ali Khamenei said on Monday he had ordered preparations to increase uranium enrichment capacity if a nuclear deal with world powers falls apart after the U.S. withdrawal. Khamenei also vowed never to accept limits on Tehran’s ballistic missile programme.

 

 


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