The demand revisions come as oil prices surged to four-year highs in early October, with Brent crude—the global benchmark—temporarily breaching the $85-a-barrel threshold. Prices have been bolstered by declining Iranian production and exports ahead of the enactment of U.S. sanctions on the country’s oil industry next month. Related Brent crude, the global benchmark, ended Thursday 3.4% lower at $80.26 a barrel. The IEA said Iranian supply fell to a 2½-year low in September as buyers continued to reduce their purchases before the Nov. 4 deadline. Crude production fell by 180,000 barrels a day month-on-month, to stand at 3.45 million barrels a day last month, the agency said. President Trump in May pulled the U.S. out of a 2015 international agreement to curb Iran’s nuclear program, setting the stage for the reimposition of sanctions. Still, in the mid-to-long term, the IEA said there is “no peak in sight” for global […]