RE:Pressure building on OPEC to act on oil price falljust saw movie "rosewater"..can t see iran bending to the west...they can withstand sanctions for a long time and seek deal to sell oil to china..china is dealing with russia even as the west sanctions them....iran just signed deal with russia to build more reactors..they are going nuclear full bore..in the end they want ability to have nukes..if not for energy use in the future but surely to have in reserve when push comes to shove..remember war with iraq..in addition to oil it could use nuke power as cheap power to develope the country...there is no will to attack iran over nukes..and once achieved it s to late to do anything...look at pakistan ,nobody dares touch them...india and pakistan are in a mexican standoff..small scale border conflicts .but would be suicidal to go heavy against each other...
america keeps pumping more oil and out west with water flood and fracking and oil sands canada is adding to the world oversupply..oil will slide further to 50 or 60$..real fear and panic needs to race through the streets before i can jump in market and buy more cpg..now have 5300 @36.93 from 5 yr ago..good luck to all