Iranian crude oil exports fell sharply again in April and could be down by as much as 1M bbl/day...

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kmi Comments (3844)
 
If/when sanctions are lifted there's going to be a lot of product coming back on a market already oversaturated with the stuff.
11 May 2012, 10:18 AM Reply Like

Q. A. SAMAD Comments (75)
 
And yet the price of oil in the U.S. will not drop one penny as a result of this 'over saturation' as this country does not import Iranian oil. Then again, the U.S. in not importing Iranian oil IS a good thing.
11 May 2012, 02:04 PM Reply Like

kmi Comments (3844)
 
East Coast is effectively on Brent price, and the European market (i.e. countries like France and Greece) did indeed purchase Iranian oil and will likely do so again if sanctions are lifted. This means that the Brent price will be affected to the downside once Iranian oil comes back into the market, and therefore so will East Coast US prices.

It's extremely unlikely that large supplies of Iranian oil hitting the market after the sanctions are lifted won't effect the price.
12 May 2012, 02:02 AM Reply Like

blueice Comments (2477)
 
I believe they export about 2.3 million per day...Of course, Red China will continue to take it's allotment whatever that is..

I am sure how Iran survives this event....
11 May 2012, 01:20 PM Reply Like