Post by
Leewardcape on Aug 18, 2022 1:19am
Iran's Oil Stored At Sea
The internet (Google) says that there are an estimated 25 VLCC's of Iranian oil on the ocean at any time....this represents anywhere from 55 to 85 million barrels of oil ready to be off-loaded...
Comment by
GoodLife60 on Aug 18, 2022 8:05am
That's true, but if they tried unloading it too fast I'm sure Opec would respond with cuts. Don't think they would allow their enemy to lower the prices. Just my opinion of course.
Comment by
jleer42 on Aug 18, 2022 8:20am
Iran is part of OPEC, they would most likely release oil in agreement with the cartel. Iran is probably selling it's "off-market" oil at a discount so they get a winfall just by losing the discount. Sure Iran is at odds, and sometimes open confict, with other mid-eastern memebers, but politics makes strange bedfellows.
Comment by
GoodLife60 on Aug 18, 2022 8:27am
I understand that. But their contributions are only 2 to 3 million barrels. Think they will follow suit. Still, just my opinion.