Oil Prices

[BlueKelah]

Iran reportedly has 20 million barrels in storage ready to go. The current oil fields should be able to ramp up to half million barrels per day, within weeks and another half million per day from those closed fields which could take a couple months to reopen. So we are looking at about an extra million per day hitting the market soon once that 20 million barrels is sold.

The deal is more or less signed and good to go but for some reason, it seems to need to pass through usa congress. It will likely be approved on the USA side since they are the ones doing all the talking and negotiating, though it might still have a small possibility of failing to get through if USA congress politicians try to block Obama.

Hitnrun
Pls up my rep if u are grateful.. heh..

sent from my Galaxy Tab S