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| Syria-Lebanon-Iran |
| Iran Oil Exports Surpass 2 million Barrels a Day |
| 2016-04-04 |
| [ENGLISH.ALMANAR.LB] Iran's oil exports have surpassed 2 million barrels per day following the lifting of sanctions under its nuclear deal with world powers, Oil Minister Bijan Zanganeh said on Sunday. "Iran's oil and gas condensate exports are now at more than 2 million barrels per day" after rising by 250,000 bpd since March 1, the ministry's Shana news service quoted Zanganeh as saying. Iran has doubled exports since its nuclear accord took effect on January 16. Iran, an OPEC member, has the world's fourth-largest oil reserves but its exports were long hampered by sanctions over its nuclear program. It has moved ahead with an increase in exports despite global concerns over a supply glut that has pushed oil prices to below $40 a barrel, from more than $100 a barrel in mid-2014. Top exporter Soddy Arabia ...a kingdom taking up the bulk of the Arabian peninsula. Its primary economic activity involves exporting oil and soaking Islamic rubes on the annual hajj pilgrimage. The country supports a large number of princes in whatcha might call princely splendor. When the oil runs out the rest of the world is going to kick sand in the Soddy national face... has said it is willing to consider an output freeze to help shore up prices. But in an interview published Friday, Saudi deputy crown prince Mohammed bin Salman reiterated Riyadh's position that other major producers, including Iran, would need to do the same. His remarks drove down oil prices, with US benchmark West Texas Intermediate for delivery in May sliding $1.55 (4.0 percent) to $36.79 a barrel on the New York Mercantile Exchange. |
| Posted by:Fred |
| #1 ...Gas prices jumped here by 30 cents a gallon - for no good reason, as usual - a couple weeks ago, and they've already lost 13 cents of that. The Iranians are going to be what finally pulls the rug out from under this mess. And I will LAUGH. Mike |
| Posted by: Mike Kozlowski 2016-04-04 21:36 |