Wednesday, July 22, 2015

Iran to sell crude oil more aggresively

Now that the Iranians are going to be selling crude into the world market on a more aggressive manner it angers the Saudis… who are going to do everything within their power to make certain that they retain their market share. That's going to tend to put downward pressure upon crude oil price.

Back in the 1970's and early 1980's, Iran was producing about 6 million barrels of crude oil per day. Now, they're back to about 4.5 million. They will get 6 million barrels over the course of the next two years.

Tanker Stocks and Crude Oil

The tankers seem to be something that nobody is paying a great deal of attention to. I think that owning tankers makes sense.