The main news of the beginning of last week was a record increase in oil production in the US.

According to the information released by the Energy Information Administration, in February US oil output jumped 260,000 barrels a day to the record 10.26 million barrels per day. The productivity in Texas increased by 106,000 barrels per day to 4 million barrels per day, which was the highest since 2005. The EIA also corrected the oil production figures in January upward by 40,000 barrels per day to the total of 10.004 million barrels per day. The volume of natural gas production in February also increased to the record 87.6 billion cubic feet per day. In Texas, in February, the productivity increased by 1.5 percent to 22.4 billion cubic feet per day.

However, the main reason that influenced the behavior of oil quotations was the situation around Iran. On Tuesday, oil prices went up after Prime Minister Binyamin Netanyahu's statements about the confidence that US President Donald Trump "will make the right decision" regarding the Iranian nuclear deal. The day before, oil prices increased significantly due to the fact that Netanyahu publicly supported the US withdrawal from the Iranian nuclear deal of 2015. Trump gave Britain, France and Germany a deadline of May 12 to correct those provisions of the Iranian agreement that seemed to him erroneous. Otherwise, he will resume sanctions against Iran. In case of suspension of the Iranian deal, we can expect a sharp drop in Iranian oil exports, which will lead to a global shortage of supplies. Some analysts say, in this case, oil prices could rise to $ 90 per barrel.

Iran did not hesitate to respond. First, Foreign Minister Mohammad Javad Zarif said that the US demands for a revision of the terms of the 2015 nuclear deal are unacceptable. According to him, Iran will not review the agreement, which was concluded several years ago and is being successfully implemented. Advisor to the President Ayatollah Ali Khamenei added: "If the US allies try to change the provisions of the deal, then we definitely will consider the possibility of withdrawing from it." Then came the statement of the President of Iran, Hassan Ruhani, that Iran has a plan of action in response to any decision of Trump on the nuclear deal of 2015, and that the US will regret the withdrawal from the agreement. Earlier, Ruhani had already spoken in a similar vein: "We will not negotiate with anyone on matters of defense and armament. We will manufacture as many weapons and missiles as we need. You Americans should know that you can not try to intimidate a great nation that has withstood eight years of defense (in the war with Iraq) "

Britain, France and Germany are satisfied with the current version of the agreement, but for the sake of keeping the US from withdrawing from the deal, European countries are ready to reconsider issues related to Iran's missile program and the country's nuclear energy activities after 2025. In a recent interview, French President Emmanuel Macron said that he did not agree with Trump's intention to withdraw from the deal. "It can lead to war," the president said.

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