The average price for Iran’s heavy crude, country’s largest selling crude oil, reached $111.73 per barrel in January, an increase of nearly $5 per barrel over December prices. The prices for February are also expected to show an increase.
What's the point if Iran can't receive hard cash for their oil?
Nader, do you have a source for this info and please don't waste your time citing sources from Iran as 99% of the world does not trust any info from Iranian sources.Thanks Dino
Pls read: http://bacajela.blogspot.com/2012/02/special-report-irans-oil-smuggling.html
and Iran may not be able to continue to sell as many barrels...and when that happens may be driven to have to sell to the remaining customers at a discounted price.the Chinese are waiting for that
Dino,The average monthly prices and the production levels are compiled by OPEC for its members, and are used here as the source. There are of course ways to check the accuracy of these reports for longer periods of time, but for monthly reports the OPEC's are the only ones available.
Anon 8:35 AMThere are ways for Iran to receive hard cash even under heavy sanctions.
Shipping companies avoid doing business with Iran amid increasingly tight sanctions --Maersk, Frontline, Teekay all say their ships are no longer stopping in Iran --European refiners can still lift Iranian oil, but it is getting more expensive and more difficult http://online.wsj.com/article/BT-CO-20120214-712307.html
----There are ways for Iran to receive hard cash even under heavy sanctions.----yeah, pimping and selling drugs come to mind.
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