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Iran, the third largest oil producer of OPEC after Saudi Arabia and Iraq, intensified its efforts to protect itself against US sanctions and sent a letter to the members of OPEC by Iranian Minister of Finance Bijen Zengen, demanding support under the second article of the OPEC Charter. Article 2 emphasizes the protection of the interests of the Member States individually and collectively. He also signaled that he has not yet reached an agreement with Saudi Arabia on the possible need to increase the global oil supply. ‘We have plans for oil sales and we will try to reduce oil exports based on our experience,’ he said. On the other hand, tanker's followers Petro-Logistics Sa said Saudi Arabia's oil supply forecast 10.1 million barrels/day in May and reached its highest level of 7 months. Finally, in its latest monthly report released by the Energy Information Administration (EIA), crude oil production in the United States rose 217,000 barrels a day in March to a record 10.47 million barrels a day. In addition to this, the EIA revised its production figures in February from 10.31 million barrels per day to 10.26 million barrels per day. Baker Hudges drilling wells will be announced for the rest of the day.Technical point of view, resistance levels of 77.30, 77.90 and 78.25 may be critical, and retracements up to 76.80, 76.50, and 75.60 Support levels can be seen in possible downward movements.
