RE:RE:RE:RE:RE:dow down near 500I don't understand your predictions on oil and Iran.
How can oil crash to $60 when we're in strong backwardation and OPEC+ is not meeting quota's? Only the Saudi's and UAE have spare capacity and that's even disputed to it's reliability. The other nations are having explosions, leaks, and unrest seemingly every week.
Iran has suffered through low capital investment since 2014 just like everyone else, and they had sanctions on them for the majority of the last 20 years.
Oil production isn't like a car, you don't just turn the ignition key and it goes. Even IF the sanctions are lifted you're looking at 6 months+ to start seeing production come back. But can it? If they didn't have the funds and expertise to maintain the fields is it even doable? Hence my above points.
Iran has been selling almost 1 MB/D to China on the black market. If they could produce more, why wouldn't they sell more? Sure there's some oil on floating storage but it's a drop in the bucket.