RE:RE:So, when the market will start anticipate...The polls are starting to move his way for Nov , damn straight he wants it done , 100 million floating barrles gets air time , had to raise cash for one crazy epic sell off when he does it
SeargentPepper wrote: The cynic in me wonders if this is why the administation is desperate for the Iran deal. I have no opinion on whether the Iran sanctions make sense from a nuclear weapons standpoint. But as far as oil markets go, Iran's floating stoarge could notionally take the place of the SPR for approx another two months.
After that, increased production might keep pace with one year of normal demand increase. Among my sources for that opionoin is the chart you posted a short while ago.
red2000 wrote: Going to be a heck of a situation when SPR releases stop and draws start hitting commercial inventories entirely !
It's coming pretty fast, around end of october or so ! The President’s announcement called to release one million barrels of SPR crude oil per day over six months. This historic release of SPR crude has provided a record amount of crude oil supply to the U.S. economy and will continue until the end of October 2022.