Post by
tracker11 on Dec 07, 2020 4:39am
OPEC troubles
When the world's most precious commodity, oil, is in the hands of undermining, back stabbing Bedouin Nomads, trouble soon follows. The ink has yet to dry on this past weekend's OPEC+ agreed and signed deal of 500,000 bpd increased production and Iran is already having tantrums and getting ready to ramp up production of 2,000,000 bpd resulting in oil this morning being down $0.80 and as reported in investing.com at 4:00 am. The following quote is from the reported article........."Reuters, citing Iranian state media, reported on Sunday that Tehran had instructed its oil ministry to prepare installations for production and sale of crude oil at full capacity within three months, ahead of a possible easing of US sanctions after President-elect Joseph Biden takes office on Jan. 20. The report suggested that President Hassan Rouhani was eager to bring Irans output back to the 2-million bpd level seen in 2018, before the Trump administration exited the six-nation nuclear deal with Tehran and reimposed sanctions that hit the economy hard"....