Power Struggles At The Persian Gulf - Is Another Gulf War Imminent?


Iran is currently the fifth-largest oil producer in the world, the second-largest producer in the OPEC, and the third-largest oil exporter worldwide. Of the total production of almost 3.5mn barrels/day, 2.285mn barrels/day were exported last year. 0.8mn barrels/day are shipped to the OECD countries in Europe, 0.6mn barrels/day of those to the EU and 200,000 barrels/day to Turkey (50% of the Turkish demand). But Asia is the most important export market at 1.5mn barrels/day, with China alone accounting for 550,000 barrels. Japan, India, and South…

Read more...

More from Commodities

Goldman Is Bullish on Oil, Sees Demand Outweighing Inventory Concern

Goldman Is Bullish on Oil, Sees Demand Outweighing Inventory Concern

Market Bears Have Devoured Gold Prices

Market Bears Have Devoured Gold Prices

Chevron Falls With Crude After Mizuho Analyst Touts Its Mega-Assets

Chevron Falls With Crude After Mizuho Analyst Touts Its Mega-Assets

Oil Falls as J.P. Morgan Cuts Price Forecast, Producers Ramp Up Drilling

Oil Falls as J.P. Morgan Cuts Price Forecast, Producers Ramp Up Drilling

Gold to Skyrocket as Italian Rebellion Unfolds

Gold to Skyrocket as Italian Rebellion Unfolds