Oil prices climbed on Friday as the IEA boosted optimism about global oil demand recovery. Friday, June 11th, 2021 Oil prices showed modest gains on Friday, after a selloff on Thursday. Oil prices drop after U.S. lifting sanctions on Iranian officials. The U.S. Department of the Treasury said on Thursday it is removing several Iranian officials from its list of designated persons, including three directors of the National Iranian Oil Company (NIOC). Oil prices declined on the news. Rystad: OPEC+ will have to loosen output limits. In early trading Friday, oil was back up, on positive economic news in the U.S. and accelerating global vaccination campaigns, according to Rystad Energy. But the firm warned that there is going to be rising pressure on OPEC+ to loosen production constraints in order to avoid the oil market overheating. IEA: OPEC+ should “open the taps.” The IEA said that global oil demand […]