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Started By
Message
Oil market and Iran
Posted on 9/20/17 at 9:06 pm
Posted on 9/20/17 at 9:06 pm
Trump already made a decision on the Iran nuclear accord.
If he is to abolish the deal, this will result in a spike in the price of oil.
Iran is dumping more than 1 million barrel a day.
I think I will hold on to my oil stocks a little longer.
What say you?
If he is to abolish the deal, this will result in a spike in the price of oil.
Iran is dumping more than 1 million barrel a day.
I think I will hold on to my oil stocks a little longer.
What say you?
3
Posted on 9/20/17 at 9:08 pm to Northwestern tiger
it won't, already a glut on the market
Posted on 9/20/17 at 9:10 pm to barry
Iran is a big exporter though
Posted on 9/20/17 at 9:32 pm to Northwestern tiger
He needs to put sanctions back on Iran’s oil industry investment and infrastructure for anyone to see any rise in prices.
He hasn’t done that, I don’t think. But even then there is still a nice glut. With the way the stockpiles have been looking the past couple weeks, once Gulf refineries come back online to max cap we will still eat up crude but build gas and distillates.
We need both going down because both are still well above the 5 year average. It’s still along road even if Iran is sanctioned.
You wanna see prices go up quickly... Somebody better put a bomb in the wrong place.
He hasn’t done that, I don’t think. But even then there is still a nice glut. With the way the stockpiles have been looking the past couple weeks, once Gulf refineries come back online to max cap we will still eat up crude but build gas and distillates.
We need both going down because both are still well above the 5 year average. It’s still along road even if Iran is sanctioned.
You wanna see prices go up quickly... Somebody better put a bomb in the wrong place.
This post was edited on 9/20/17 at 9:34 pm
Posted on 9/21/17 at 3:16 am to Northwestern tiger
Zero chance anything trump does actually significantly impacts their ability to get their oil to market
Posted on 9/21/17 at 2:42 pm to Northwestern tiger
quote:
Iran is a big exporter though
It's like 1.2% of global oil demand. OPEC could pretty much turn a couple of valves and bring that back on the market.
Posted on 9/22/17 at 7:02 pm to Northwestern tiger
quote:
Iran is a big exporter though
Source? Estimates vary but it seems that Iran is something like the #10 worldwide, more or less. I mean, yes, they sell the stuff but they aren't *that* big.
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