Iran is flooding the oil market of one million barrels per day 8/23

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24/08/2015 01:30


Iran is flooding the oil market of one million barrels per day

Iran suggests its ability to challenge the major competitors and Mnatahh. But the reality is that Iran needs to be the price of the barrel rises to $ 130 or more, according to an analysis of Deutsche Bank Dutch bank in 2014.

BAGHDAD / Obelisk: Iran is about to emerge from decades of economic isolation if the historic nuclear deal with the United States and its allies, which paves the way to ease the economic sanctions in return reduce its nuclear activities succeeded. The deal comes at the worst time for the oil-producing country, where prices fell to their lowest levels.

And the low price of oil to $ 41 a barrel last Thursday, and is considered the lowest level since early 2009. Despite the low prices, you expect a former analyst at the Central Intelligence Agency CIA, Halima Croft, the Iran nuclear deal will add large amounts of Iranian crude oil the new global market, which will lead to further deterioration of prices.

Croft says, according to a report published by "opinion today," and I followed "obelisk", Iran suggest their ability to challenge the major competitors and Mnatahh. But the reality is that Iran needs to be the price of the barrel rises to $ 130 or more, according to an analysis of the German bank "Dutch Bank" in 2014.

Also stresses economic analyst, Philip Hldk, that Iran is in dire need to modernize the oil fields and refining factories which have established over 70 years ago. Making experts and analysts are skeptical about the ability of the Iranian economy to increase their production by one million barrels per day as claimed by Tehran.

In contrast, other analysts believe that energy companies will not be able to resist the temptation to Iran, which has a nine percent of the world's proven oil reserves in the Middle East and 18 percent of gas reserves.

Officials have met major European oil companies such as "Royal Dutch Shell" and "Eni" with Iranian officials in Tehran earlier this year to discuss their future plans.

Some argue that Saudi Arabia will try to put pressure on its regional rival, Iran, by trying to maintain a very low prices. When he said the US economic, David Kotok, that "the decline in oil prices as well as higher production to the highest rate in history, is the best weapon for the Saudis.

Where they have sufficient financial reserves to stay in leadership for several years to come, "according to the saying.



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