Oil prices fell on Wednesday as investors have considered the likely impact of the increase in exports of Iranian oil at a time of oversupply.
An official at the National Iranian Oil Company said on Wednesday that oil production of Iran can be increased by 50-60 thousand. Barrels per day, which confirms the prospect of focusing the supply of a nation that has some of the largest oil reserves in the world.
Iran could reach its set limit of 4 million barrels per day within six to 12 months if there is sufficient demand.
Most analysts agree that Iran could start exporting to the world market at the beginning of 2016, the estimated additional volumes vary between 30 and 70 thousand. Barrels per day.
Iran, as a member of OPEC, exports nearly 3 million barrels of crude oil at its peak before Western sanctions where the export was reduced to 1.5m. Barrels per day over the past two and a half years.
The forecast in the long term oil to continue its downward trend.
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.