Friday, March 23, 2012

Oil Prices Rise As Iran Exports Fall

Oil prices briefly spiked today to the highest level in three weeks following a report that Iranian oil exports dropped significantly this month, falling by 300,000 barrels per day, or 14 percent.

Source: AP, 23 March 2012


Anonymous said...

Stand firm Iran you will win. USA is like the Mayan collapse. They will spend trillions on the military which possibly Iran will defeat with millions. BTW the Mayans imperialism was collapsing but they still kept build elaborate temples like the USA building aircraft carriers

mat said...

Fri Mar 23, 2012 2:46PM GMT

Former executive director of the International Energy Agency (IEA) says Western tensions against Iran could hit Japan with an economic impact greater than that from the March 2011 earthquake.

Speaking at an event in Washington sponsored by the Center for Strategic and International Studies, Nobuo Tanaka said Japan will be hard hit if the tensions against Iran curb the supply of liquefied natural gas while Japan's nuclear fleet is shut.

With 20 percent of its gas and 80 percent of its oil coming through the Strait of Hormuz, Japan would face a "disastrous impact" from a crisis in the Middle East, Platts quoted Tanaka, now a global associate at Japan's Institute of Energy Economics, on Friday.

On March 11, 2011, a 9.0-magnitude earthquake off the northeast coast of Japan's main island set off a devastating tsunami and was followed by more than 50 aftershocks. The tragic event triggered one of the world’s worst nuclear disasters, crippling Japan's Fukushima nuclear power plant.

Anonymous said...

I mean selling less and gaining more ??? is that not what capitalism is all about ???

Dariush London

Anonymous said...

You guys look for anything to justify the regimes policies.Iran's oil is being given away for nothing and your talking about capitalism.

M1rg b1r Kh1m5n5i

Anonymous said...


selling less and gaining nothing....beyond a destroyed economy and isolation from the world is what is happening to Iran.

as Iran experiences vastly increased costs trying to market its oil.....and as its customer base shrinks and don't pay in anything but local currencies or commodities......

and when China decides that it has enough leverage to demand that steep discount in the price of the oil it buys from Iran.....

what will you then say?

Anonymous said...

------ I mean selling less and gaining more ??? is that not what capitalism is all about ???

Dariush London----

actually Iran is selling less and Saudi Arabia and the other suppliers are gaining more....

iran is just losing sales ... and customers... and revenue....and not even getting paid at all in some cases, and paid by barter in others.