Caveats to a proposed freeze in oil production from Iran pushed crude oil prices sharply lower, moving Brent to below $40 per barrel after last week’s rally. An expected downturn in U.S. crude oil production through 2016 helped push crude oil prices higher last week, sending Brent above $40 per barrel for the first time this year. Oil prices have been under pressure because soft global economic recovery wasn’t enough to take on soaring inventories, tilting the market balance heavily toward the supply side. Iranian Oil Minister Bijan Zangeneh said his country would consider a cap on production levels once his country […]