The battle to retain and even increase global oil market share is intensifying. Both Saudi Arabia and Russia, the world’s top two crude oil producers, continue to ramp up production amid an unprecedented supply glut and associated price collapse for crude that is rocking the world financial system. This week several analysts once again downgraded their global oil price forecast, many forecasting prices in the lower $20s-range, while Standard Chartered called for oil prices to reach an unimaginable $10 a barrel – something until recently would have seemed like a misprint in the financial press. As sanctions against Tehran’s energy sector are lifted, though there are still various other sanctions in place over the country’s ballistic missile program and sponsorship of terrorism, Iran will enter the fray of an oil market that has arguably gone mad . With Iran set to add an additional 500,000 barrel of crude to […]