Iran's oil stockpile could flood market.

As the chess game continues between The Federal Reserve(IMF) and BRICS...Iran and India...the I could be both.

originally posted by: Elton
Capitalism would say that the price will drop and weak companies should fail, market adjusts, etc... (hopefully we get that XL pipeline approved since oil is soooo expensive)

That said I live in the USA and we got quite upset when OPEC said they wouldn't do our price fixing anymore as it was losing them market share. Maybe we can fund a small war with the intent of destroying the Iranian oil reserves.

I guess talk about oil makes me grumpy... :/

none of the XL pipeline oil stays here, it's Canadian oil, and it will be exported.

by the way, where are all the chicken littles that were screaming about "peak oil".......

originally posted by: Elton
Capitalism would say that the price will drop and weak companies should fail, market adjusts, etc... (hopefully we get that XL pipeline approved since oil is soooo expensive)

That said I live in the USA and we got quite upset when OPEC said they wouldn't do our price fixing anymore as it was losing them market share. Maybe we can fund a small war with the intent of destroying the Iranian oil reserves.

I guess talk about oil makes me grumpy... :/

You are right Iran stocking up on oil is a great reason for a new war......How dare they do something like this............I have seen some messed up posts on ATS but this one is in the top 10.

Well it looks like it's time to bump this three flag thread .

I seem to recall reading a few years ago that Iran needed the price of oil to be in the $80 range to keep their economy above water. It's at $50ish right now.

But, we are probably giving them $ Billions in concessions for this Nuclear deal, so maybe they will flood the market to attempt to happily degrade the Saudi Economy.

On the other hand, Iran has traditionally cooperated with Russia, who's economy is hurting due to the low price of oil, so maybe they don't flood the market.

On the other hand, India and China could really use the oil, so maybe they will flood the market.

On the other hand, the U.S. wants to keep the price low, and they hate the U.S., so maybe they won't flood the market.

I could go back and forth all day...



Anyway, the Wall Street Journal says they can't do anything for 6 months, so it's a waiting game to find out.

Oil Prices Fall as Nuclear Deal Paves Way for Iran Exports

Iran won’t be able to implement the measures needed to lift sanctions until the end of the year, delaying the impact of that oil on the market, according to Harry Tchilinguirian, head of commodity markets strategy and oil strategy at BNP Paribas in London. The agreement also still requires approval from a Republican-led Congress.

“So it’s not yet a done deal,” Mr. Tchilinguirian added.

Oil in my opinion is way too cheap, I don't know about any of you though.

My sources in the crude oil trading business say that the massive stockpile of Iran is largely comprised of heavy, sour oil that they were unable to sell through the black market. Since refining capacity for this oil is limited it should have little effect on oil prices.

world oil consumption for 2012, per day, was 90,000 barrels, no idea what it is now, but whatever Iran has in storage, wont last long, China and India's consumption keeps going up.
What is Nigeria doing with it's oil?