Iran Promising To Sell 500,000 Barrels Of Oil

05:31

January 18, 2016

Gas prices are displayed at an Exxon gas station in Woodbridge, Virginia, January 5, 2016. Oil prices fell further January 5 as the crude supply glut overshadowed a diplomatic row between key producers Saudi Arabia and Iran as fuel prices in the US have fallen below $2 per gallon. (Saul Loeb/AFP/Getty Images)

Crude oil prices have fallen under $30 a barrel. This comes days after sanctions were lifted on Iran, a country that is promising to produce 500,000 barrels of oil a day in coming weeks.

Meanwhile, the U.S. also imposed new sanctions on a number of Iranian companies over their participation in Iran's ballistic missile program. Here & Now's Robin Young talks with Ali Velshi of Al Jazeera America.

Guest

Ali Velshi, host of Ali Velshi on Target on Al Jazeera America. He tweets @AliVelshi.

This segment aired on January 18, 2016.