Oil price woes deepen as Iran vows to add 500,000 barrels a day
by Katie Allen from on (#10YT4)
Iranian president hails end of sanctions as western economies and companies such as Airbus stand to benefit
Global oil prices will remain under pressure this week after Iran said it was ready to add half a million barrels a day to crude exports just hours after international sanctions were lifted this weekend.
Iran's president, Hassan Rouhani, hailed a "glorious victory" as his country relished reconnecting to the global economy following the formal announcement late on Saturday that sanctions were ending thanks to moves by Tehran to scale back its nuclear programme.
Related: Why the falling oil price may not lead to boom
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