Iran is about to start selling oil that may cost just $1 a barrel

recession2016 said:
that's when you know the bottom is in, when all that's being posted is bearish news
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There could be one more big thrust down, IMO before a bottom is in. It's really only been a few weeks with nearly all bearish predictions on oil. Throughout most of the fall, when oil was in the $40's most "experts" predicted the bottom was in and it would be a matter of no time before oil settled back into the 70's.
 
recession2016 said:
that's when you know the bottom is in, when all that's being posted is bearish news
More...

Not necessarily : many countries would be happy to see Saoudi Arabia ( hence Qatar as well) bankrupt - Including Iran.
Some people have been reporting a 5 years time scale for the bankrupcy to take place.
Also, selling oil so cheap will wipe out some of Daesh finances.

Saoudi Arabia and Qatar are said to have financed the "Islamic State", Daesh : so the sets of countries
who want these countries down is quiet long.
This is additional pressure on Saoudi Arabia, who has now annouced austerity measures to its own population. http://www.bloomberg.com/news/artic...-spending-curbs-amid-oil-price-slump-ifi62ac1
 
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hard to believe that iran can ramp up production without costs being much higher than 1$/bbl. maybe there is some production at low cost but these volumes are already being absorbed by India and China ( both countries had exemptions from United States to buy Iranian oil).
 
We can only be sure and certain that great turmoils is to come to the regions of AND around Saoudi Arabia.
And nowdays, nothing seems impossible - ask the Syrians.
Now, the question is : how will their bankrupcy unfold and how to capitalise on that?
 
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