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It's worth pointing out that this is still before Iran comes online. Once that happens (possibly in a few days) prices could fall further.
by sambeau 11y ago
It's worth pointing out that this is still before Iran comes online. Once that happens (possibly in a few days) prices could fall further.
- hcho 11y agoOr maybe the markets already priced that in...
- cdnsteve 11y agoThere's also major political tensions with the Saudi's and Iran. Some have predicted that if a war were to break out oil would rush back to $100 per barrel. Also, Iran must first past nuclear inspections before they are able to lift the ban.
- fluxquanta 11y ago>Also, Iran must first past nuclear inspections before they are able to lift the ban. This could happen pretty soon: >"Implementation of JCPOA will finish in the next seven days," he said. http://www.bbc.com/news/world-middle-east-35285095 http://www.bbc.com/news/world-middle-east-35285095
- jerf 11y agoWhich is pretty scary; that gives some already volatile countries massive incentives to have a war. Humans are good enough at coming up with reasons on their own without paying them to do it.
- dingaling 11y agoIf I was Iran, would I want to come online now? Or ride-out the bottoming of the market until Saudi Arabia implodes and its rulers hastily depart to their apartments in Paris. On the other hand, one has to time production to ramp-up before renewables become too dominant. Interesting calculus.