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 StockTrader rated 12 months ago - From the page: "The head of the Organization of Petroleum Exporting Countries warned Thursday that oil prices would see an "unlimited" increase in the case of a military conflict involving Iran, because the group's members would be unable to make up the lost production.
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2 Reviews
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- StockTrader rated 12 months agoeconomics, petroleum
- From the page: "The head of the Organization of Petroleum Exporting Countries warned Thursday that oil prices would see an "unlimited" increase in the case of a military conflict involving Iran, because the group's members would be unable to make up the lost production.
"We really cannot replace Iran's production - it's not feasible to replace it," Abdalla Salem El-Badri, the OPEC secretary general, said during an interview.
Iran, the second-largest producing country in OPEC, after Saudi Arabia, produces about 4 million barrels of oil a day out of the daily worldwide production of close to 87 million barrels. The country has been locked in a lengthy dispute with Western countries over its nuclear ambitions."
- kevkos rated 12 months agoeconomics, oil, iran, collapse, gold
- An attack an Iran would do us in, not to mention the middle east and the rest of the world! Lesson: invest in oil and buy some gold.
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