The average price for a basket of crudes from OPEC producers fell to $25 a barrel on Thursday, the group said, even before unrestrained exports from Iran hit the market. Benchmark global oil prices took a fresh hit on Friday with the market bracing for more supplies from Iran earlier than expected. The Organization of the Petroleum Exporting Countries said the price of a basket of crudes produced by its 13 members was assessed at $25.69 on Wednesday. Iran expects the United Nations nuclear watchdog to confirm on Friday it has curtailed its nuclear program, paving the way for the unfreezing of billions of dollars of assets and an end to bans that have crippled its oil exports. For the past 18 months, oversupply has been the main factor responsible for dragging down […]