Baytex Energy Corp T.BTE

This will hurt Oil prices, Just Out

[smallcaptdr]

WTI crude futures eased toward $90 per barrel on Tuesday after gaining 2% in the previous session, as traders mulled the latest progress in talks to revive the 2015 Iran nuclear accord, which could potentially set the stage for increased crude exports from the heavily sanctioned country. The European Union submitted a “final text” to revive the 2015 deal late on Monday, awaiting approval from Washington and Tehran. A potential deal could boost Iran’s oil exports by at least 1 million barrels per day or about 1% of global supply in six months, putting downward pressure on prices. Meanwhile, investors are eyeing weekly US oil inventory data this week to gauge demand in the world’s top oil consumer, as recent reports pointed to declining consumption. The EIA will also issue its short-term outlook later on Tuesday, while monthly snapshots from OPEC and the IEA will follow on Thursday.

Add additional production now from Iran on top of additional production from new wells in the US and Canada and China's new Shale offshore discovery all happening in an economy that's heading for a major slowdown. $75 Oil by year's end is looking good.

[JohnnyDoe]

Words like potential and could are a little different than signed deal and will wouldn't you say? So do you think the Iranian barrels are already getting to market? If so, what changes? If they're not, then they're shut in. How long do you think it will take the Iranians to restore shut in production? One year? Two years? Or do you believe the Iranians have some magic potion that

[riski]

Iran is pumping full out and all their barrels are reaching market at a discount, disreetly. Mostly China is buying, but others as well. This is well known in the oil market and a deal with Iran will be neutral for oil.  

[Cobalt]

Any Iran deal would still need congressional approval , GOP hand the Dems a major win , I think not!

[BayStreetWolfTO]

Looks like a former alias taking a different tactic. LOL

[Moemoney42]

Agreed riski.. those Iranian barrels have never stopped moving.. those LCC whose trackers go dark and suddenly light up in China's ports aren't carrying figs..! 

[Re1ndeer2]

those bbls discounted two years ago....get with it ..