Latest News in the Business and Financial World

Wednesday, April 21, 2021
Log in
  • Home
  • Company News & Financials
  • OTC Markets
  • Tech & Science
  • Health & LifeStyle
  • About WS OTC
    • Analysts & Contributors
    • Contact Us
    • Advertising
    • Feedback
    • Privacy Policy GDPR
  • Mobile
  • Latest News
    • New Theories Explain the Disappearance of the Mayan Civilization
    • What Happens If Coral Reefs Die?
    • Monsanto Loses Lawsuit for its Herbicide Products
    • Mankind (MNKD) shares Plunge after FDA Approves Afrezza, inhaled Insulin for Diabetes patients
    • Psychologists Confirm that Violent Video Games Boost Aggressiveness
    • World of Warcraft: Warlords of Draenor Release Date on Nov 13
    • iPass Global Hotspot Map Unveils Worldwide Wi-fi Coverage

Pages

  • About Wall Street OTC
  • Advertising
  • Analysts & Contributors
  • Contact
  • Feedback
  • Mobile
  • Privacy Policy GDPR
  • Terms of Service

Recent Posts

  • SF Hospital Slaps New Parents with $19K Bill for Baby Treatment
  • Furious Trump Blasts Harley-Davidson for Moving Production Overseas
  • Warning! MRI Machines Could Poison You
  • Flight Attendants More Likely to Get Certain Cancers
  • More Red Meat Allergy Cases Related to Lone Star Tick Bites

Iran Expects Nuclear Deal to Improve Oil Exports

Mar 17, 2015 By David Warren Leave a Comment

Email, RSS Follow

A ship is connected to the Basra Oil Ter

Iran and the U.S. are in the middle of some pressing talks about nuclear capabilities, but it’s not just about that; Iran is looking to get its oil export back on track.

Iran’s national economy is heavily dependent on oil export levels, and it has been going down after several sanctions have reduced Iran’s ability to sell it on international markets. Before the new ratifications in 2012, the country used to export 2.5 million barrels each day, but afterwards, that number dropped at just 1.3 million barrels.

Because oil exports are so important, the country’s economy has had a lot to suffer. Inflation is through the roof and youth unemployment increased to more than 20 percent. Any form of nuclear deal that Iran will sign is very likely to allow the country to sell its oil in larger quantities again. But there’s a problem: there’s already too much oil on the market as it is.

Prices for crude oil are not looking good; last summer, a barrel was worth a little over $100, but the prices have sunk to $43 this week – reaching an all-time low in more than six years. If Iran will be allowed to export more again, the prices are likely to drop even lower.

According to Deutsche Bank, these are bad news for Iran, who is planning of requesting more than $130 for an oil barrel in order to help raise its economy. An unfortunate paradox is going to take place; the more oil Iran sends on the market, the lower the prices will be.

However, Iran has no guarantee that a nuclear deal can be reached. Even in the less likely case that it does happen, Iran’s sanctions will take a while before being lifted and its oil production to gain traction again. After the U.S. resumed debates with Iran on Sunday, the White House stated that a mutual agreement has a 50/50 chance of happening.

Even with the heavy sanctioning that has been put over Iran, there is a lot of “cheating” still happening. An U.S. Energy Information Administration report has valued Iran to have the fourth-largest oil reserves, which prompted a lot of businessmen to go around the law in order to make transactions, such as using the black market.

Not just that, but Iranian oil is also being sold on the open market because sellers claim it comes from other countries and not Iran. But many industry observers believe that a deal is very likely to happen, as the country’s economy is on the verge of bankruptcy and because President Obama has a special interest in the legacy it leaves before he steps down from his office.

Image Source: Iran Daily

Email, RSS Follow
The following two tabs change content below.
  • Bio
  • Latest Posts

David Warren

David Warren is a serious tech aficionado. Five years ago he finished his studies at the California Institute of Technology, Caltech, where he earned a degree in Computer Science. Two years ago he got hired as a data protection analyst in an American multinational. When he’s bored with security protocols he enjoys writing reviews and previews of his favorite gadgets and games.

Latest posts by David Warren (see all)

  • Scientists Take A Closer Look At One Of The World’s Largest Volcanic Eruptions - Oct 15, 2017
  • Insects Such As Fruit Flies Can Unexpectedly See In High-Res - Sep 10, 2017
  • The Swimming Style Of Plesiosaurs Explained By A Robot - Sep 1, 2017

Filed Under: Business

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 72 other subscribers

Mom holding newborn's hands

SF Hospital Slaps New Parents with $19K Bill for Baby Treatment

Jun 29, 2018 By Anne-Marie Jackson Leave a Comment

Harley-Davidson biker

Furious Trump Blasts Harley-Davidson for Moving Production Overseas

Jun 28, 2018 By Anne-Marie Jackson Leave a Comment

MRI machine

Warning! MRI Machines Could Poison You

Jun 27, 2018 By Anne-Marie Jackson Leave a Comment

Flight Attendants More Likely to Get Certain Cancers

Jun 27, 2018 By Anne-Marie Jackson Leave a Comment

Lone star tick sitting on a succulent leaf

More Red Meat Allergy Cases Related to Lone Star Tick Bites

Jun 26, 2018 By Anne-Marie Jackson Leave a Comment

Time magazine cover

Time Admits Sobbing Cover Girl Was Not Separated from Parents

Jun 26, 2018 By Anne-Marie Jackson Leave a Comment

Sunshine and green leaves

Vitamin D Deficiency Could Boost Risk of Lung Disease

Jun 25, 2018 By Anne-Marie Jackson Leave a Comment

Green-light laser pointer

Greek Boy’s Retina Severely Damaged by Laser Pointer

Jun 22, 2018 By Anne-Marie Jackson Leave a Comment

Red Tesla car

Tesla Suing ‘Whistleblower’ over Data Theft

Jun 21, 2018 By Anne-Marie Jackson Leave a Comment

Boiled eggs and mayonnaise

Eating too Clean Can Lead to Orthorexia

Jun 20, 2018 By Anne-Marie Jackson Leave a Comment

NYC mayor Bill de Blasio

NYC Will Allow People to Smoke Pot in Public

Jun 20, 2018 By Anne-Marie Jackson Leave a Comment

A kitten and a puppy sleeping in a bed while hugging each other

Who Is Smarter Between Cats and Dogs? Researchers Have an Answer (Study)

Jun 19, 2018 By Anne-Marie Jackson Leave a Comment

Orthodox church in Greece

Being Religious Is Tied to Longer Lifespan, Study

Jun 19, 2018 By Anne-Marie Jackson Leave a Comment

Bacon and eggs for breakfast

How Does the Keto Diet Work?

Jun 18, 2018 By Anne-Marie Jackson Leave a Comment

Related Articles

  • President Donald Trump and VP Mike Pence

    America Could Be Hit By a 2008-Like Recession in 2020

    Jun 6, 2018
  • Incoming robocall

    Florida Man Behind 96M illegal Robocalls Appears Before Congress

    Apr 19, 2018
  • Overworked government workers in Japan

    Government Computers in Seoul to Shut Down to Prevent Overtime

    Mar 26, 2018
  • Angry McDonald's customer yelling at employee

    Video of MacDonald’s Customer Having Meltdown over Ice Cream Goes Viral

    Mar 19, 2018
  • Daimler luxury Mercedes model

    Daimler Accused of Using illegal Software to Cheat on U.S. Emissions Tests

    Feb 19, 2018
  • Bride and groom

    Here’s Why Being Single Is Hurting Your Wallet

    Feb 14, 2018
  • Bitcoin and Namecoin street ads

    Top Financial Regulator Pushing for Cryptocurrency Regulation

    Feb 9, 2018
  • Bitcoin button on a white keyboard

    China Bans Online Bitcoin Ads, Citing ‘Financial Risks’

    Feb 5, 2018
  • Uber self-driving car

    Uber, Lyft Seeking Monopoly on Driverless Cars in Big Cities

    Feb 4, 2018
  • Model presenting LG washing machine

    LG Washing Machines Will Cost More in the U.S.

    Jan 25, 2018

Categories

  • Business
  • Company News & Financials
  • Diversified Financial
  • Entertainment
  • Featured
  • Health & LifeStyle
  • Micro Cap
  • Mid Cap
  • National News
  • Nature
  • OTC Exchange
  • OTC Markets
  • OTC Research
  • Science
  • Small Cap
  • Sports
  • Tech & Science
  • U.S.
  • Uncategorized
  • Wall Street
  • World
  • World Indexes

Copyright © 2021 wallstreetotc.com

About · Privacy Policy · Sitemap · Terms of Service · Contact