CNN: US agreement Iran will arrive in oil prices to $ 15

CNN: US agreement Iran will arrive in oil prices to $ 15

Posted, 8-20-2015

CNN - US agreement Iran will arrive in oil prices to 15 dollars(Independent) … A report broadcast by CNN on its website that lower oil prices will continue even up to $ 15 a barrel, as a result of the deal that the whole America and major powers with Iran over its nuclear program.

The report said at a time when oil prices fell to the lowest level, Saudi Arabia is wary of the batch that could give Iran and America’s nuclear deal Iran’s regional rival in economic power struggle over the control of oil production.

Oil prices fell sharply declined recently, experts expect from the American Automobile Association that the price of oil continues to decline until it reaches $ 15 a barrel.

The problem is concentrated in the world that produces more oil than is needed, especially in light of the economic slowdown in China. With the boom of American energy market, which began the last decade and create an abundance of oil, rejected the “OPEC”, the Organization of Petroleum Exporting Countries, led by Saudi Arabia reducing production to balance the market.

He told the American economist, David Kotok, correspondents “CNN” that “the decline in oil prices as well as higher production to the highest rate in history, is the best weapon for the Saudis. Where they have sufficient financial reserves to stay in leadership for several years to come. “On the other hand, Iran does not have the same financial flexibility therefore need to raise prices to take profits. Kotok added that “with low prices, the Saudis are deprived of their enemy on the other side of the Gulf money. This is the oil war. ”

“OPEC” strategy has resulted in pressure on its competitors with higher production costs out of the market, where some cracks began to appear in American oil production market. But threatening Iran – eager to take advantage of the nuclear bargain with the United States and restore its position as a global energy market – the status of Saudi Arabia, which currently is the leading force in oil production.

Reaching Iran and world powers led by America, to a possible historic deal to curb Tehran’s nuclear activities in return lift the harsh economic sanctions that have limited Iran’s international trade for years. Experts have warned that the deal could lead to a new flow of oil from Iran. And that the country has about 30 million barrels of crude oil in the stores ready for sale, according to the Facts “Global Energy”, a consulting firm.