Iran oil halt 'would raise price 30 per cent' - warns IMF

The International Monetary Fund (IMF) has warned that global crude prices could rise as much as 30 per cent if Iran halted oil exports as a result of US and European Union sanctions.

If Iran halts exports to countries without offsets from other sources, it would likely trigger an "initial" oil price jump of 20 to 30 per cent, or about $20 to $30 per barrel, the IMF said in its first public comment on a possible Iranian oil supply disruption.

The price impact caused by a cut in Iranian exports could be exacerbated by below average oil stocks in many countries, the result of tight oil market conditions through much of last year, the IMF said.

Read more: Al Jazeera

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Posted in: Crude Oil, Iran, Money, News, Oil Crisis, Oil Warfare, Sanctions