16.07.2015 - Look, Don't Freak Out About Iranian Oil Flooding the Market
Iranian oil will soon hit the global market, thanks to sanctions being lifted as part of the historic deal reached yesterday to regulate the country’s nuclear program. Some are suggesting that this will flood global markets with oil at a time when prices are already incredibly low (thanks, in part, to high production from the US and Saudi Arabia). So, should you go out and buy a gas-guzzler and scrap your plans to save up for an electric car?Uh, no. To the extent that an increase in Iranian oil production will have an effect on the global price of gas, it will be slight and delayed.“Most of what is assumed can be delivered [from Iran] has already been priced into the market,” says Sarah Ladislaw, director of the Energy and National Security Program at the Center for Strategic & International Studies...............................................Full Article: Source
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