"Iran to hold Opec presidency for first time in 36 years" From "BBC"

Seems this is starting at the beginning of next year 2011, I wonder what effect, if any, it will have on crude prices, or the oil business in general....





www.bbc.co.uk...

www.businessweek.com...

reply to post by freetree64


So what's the "issue" we need to see here? OPEC is OPEC - Iran doesn't control OPEC! You do know what OPEC stands for? Right? Why bring it to Iran?

reply to post by TortoiseKweek


"Orginization Of Petroleum Export Countries" and we are not bringing to Iran, they merely elected Iran as the New President of OPEC, that is all.....

reply to post by freetree64


Why have you changed your post? My reply seems "off" now! Please Justify yourself as to why you did that!?

reply to post by freetree64


Ok, Now you have clarified my post.

I am simply wondering how, and If anything will change, now that Iran has been elected President.... It would not be so important, but as the headline reads.... It is the first time in 36 years, that OPEC has done so, and I thought some would like to be informed of this change to be, and what will come of it, as oil affects all of us, in some way or another... hope that makes sense to all...

reply to post by freetree64


You still have not answered my question?

reply to post by freetree64


Wow, You are beating me in response times!

reply to post by TortoiseKweek


I'm afraid I have, thank you....

reply to post by freetree64


Well I know Venezuela thinks that $100US is a fair price for a barrel of oil, and I know Iran and Venezuela is chummy, and I know Venezuela makes up ~15% of US Oil imports, and I know Iran is a big supplier to Japan and South Korea as well as China, and I know China has been developing ties with Venezuela, also has Russia.

So yeah, who knows.