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Oil expert: Oil Prices Will Fall To $ 40 After Iran Nuclear Deal
Friday, 17 July, 2015
An oil expert predicted fall in oil prices to $ 40 in the next few months.
Hamza al-Jawahiri told the National Iraqi News Agency / NINA / that ” Iran’s nuclear agreement will reflect negatively on Saudi Arabia and the Gulf states and the oil prices in general, noting that Saudi Arabia is the biggest oil producer, and if Iran flooded the market with oil that will reflect on Saudi Arabia’s production. ”
He added that “flooding the market with Iranian and Saudi Arabia oil will lead to a sharp drop in oil prices up to $ 40 barrel oil, which will lead the Gulf States and Saudi Arabia to take other policy to oil manufacturing, to allow rivals like Iran and Iraq to regain their natural place in OPEC.”
Oil prices have fallen from 60 to 54 dollars once when Iran and the six world powers reached to nuclear deal and may ease sanctions imposed on Tehran over its oil exports gradually.
Iran and the six world powers reached on Tuesday to historic agreement will ease sanctions imposed on Tehran in exchange for limitations on its nuclear program, according to what an Iranian diplomat said./ End
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Friday, 17 July, 2015
An oil expert predicted fall in oil prices to $ 40 in the next few months.
Hamza al-Jawahiri told the National Iraqi News Agency / NINA / that ” Iran’s nuclear agreement will reflect negatively on Saudi Arabia and the Gulf states and the oil prices in general, noting that Saudi Arabia is the biggest oil producer, and if Iran flooded the market with oil that will reflect on Saudi Arabia’s production. ”
He added that “flooding the market with Iranian and Saudi Arabia oil will lead to a sharp drop in oil prices up to $ 40 barrel oil, which will lead the Gulf States and Saudi Arabia to take other policy to oil manufacturing, to allow rivals like Iran and Iraq to regain their natural place in OPEC.”
Oil prices have fallen from 60 to 54 dollars once when Iran and the six world powers reached to nuclear deal and may ease sanctions imposed on Tehran over its oil exports gradually.
Iran and the six world powers reached on Tuesday to historic agreement will ease sanctions imposed on Tehran in exchange for limitations on its nuclear program, according to what an Iranian diplomat said./ End
[You must be registered and logged in to see this link.]
