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re: Oil stocks, oversupply and the Iran deal
Posted on 3/16/15 at 11:10 pm to GREENHEAD22
Posted on 3/16/15 at 11:10 pm to GREENHEAD22
I never realized the implications of the Iran deal in regards to oil. Read an article in WSJ about it today. Looks like it will head much lower if the deal happens.
LINK
quote:
Iran, the U.S. and its allies are pushing ahead with talks over a nuclear deal that would change many things—perhaps none faster than the price of oil.
Iranian exports in recent years have been essentially capped by Western sanctions aimed at pressuring Tehran over its nuclear ambitions. A deal easing those sanctions could eventually translate into half a million barrels or more a day in Iranian crude heading into a currently glutted global market, analysts estimate.
With global crude prices already under pressure, a deal could quickly knock them lower. U.S. oil prices slumped to a six-year low Monday on fresh signs that supplies are swamping the market.
LINK
1
Posted on 3/16/15 at 11:27 pm to Enfuego
Add to that the fields that are offline in Iraq and Syria bc of IS. It could come down to our only saving grace is the quick depletion rates of the shale plays which isnt going to have that dramatic affect on the global market anyway. I fully expect to see some companies go under and get acquired cheap.
If I could only hit a big power ball, be able to pick up some shale acreage for the cheap in about 6 months or so.
Turn my 200M into a Billion.
If I could only hit a big power ball, be able to pick up some shale acreage for the cheap in about 6 months or so.
Turn my 200M into a Billion. 
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