Iran To Sign Oil Agreement With France's Total: Reports

Iran will sign an oil deal with French oil producer Total SA , according to news reports Thursday, citing Iran's energy minister. An agreement will be completed Thursday, said Energy Minister Bijan Zanganeh, who was in Paris with Iranian President Hassan Rouhani. Total has maintained an office in Iran since it ceased exploration and production activities in 2010, according to Dow Jones Newswires. An already oversupplied oil market has been expecting a fresh flood of Iranian oil since international sanctions against the country were lifted earlier this month.

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