Tuesday, January 19, 2016

Think $30 oil is bad? Get ready for $20 now that Iran has officially re-entered the market

Saturday the 16th of January was officially D-Day for the collapsing oil markets as it is now the time for Iran to enter in with its sanction held supplies, and prepared coming production.  And if the world economy thought Friday’s $29 oil was bad for markets, just wait for what the introduction of Iranian supplies does for these markets going forward.
For nearly a decade, economic sanctions against Iran had financially locked the OPEC nation in bondage, and required them to sell small amounts of oil through the ‘black market’ channels in Turkey we now know as the oil for gold scheme.  But since the U.S. decided to suddenly shift gears over the past few months in attempting to collapse Iran’s economy, the Islamic power has prepared for today with huge offerings of oil that are expected to create even greater chaos in an already saturated market.


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