Iran: Iranian oil market, everything explained?

[Christophe]

The idea which dates from 2006 and had already caused controversy at the time on forums is far from being buried as I thought: http://en.wikipedia.org/wiki/Iranian_Oil_Bourse

It is capital information (and not CAPITALISTS) which explains the recent fall (even more than before) of the dollars.

It's a 99% chance, the only real reason for the concerns that the USA is making of Iran ...

December 2007 Iran stops accepting US dollars for oil. [24]

January 2008 Iran's Finance Minister Davoud Danesh-Jafari told reporters that the bourse will be opened during the anniversary of the Islamic Revolution (February 1-11). [1].

February 2008 On February 4, the Iranian Cabinet approved the creation of the oil Bourse in two stages - first a raw oil exchange and secondly an oil byproducts exchange. The Ministry of Finance and Economics, the Oil Ministry, the Ministry of Foreign Affairs, and the Central Bank of Iran are required to create a workgroup to coordinate the project, and the Iran Commodities Bourse Company is given the task of carrying out the project. The communique from the Cabinet states that the "Ministry of Finance and Economics is required to take measures in making the petrochemical by products Bourse operational by the end of February 2008." [25]

[edit] Opening ceremony

On February 17, 2008, the Iranian Oil Bourse was inaugurated in a video conference ceremony from the capital Tehran attended by ministers of oil, finance and economic affairs as well as chairman of Iran's Stock Exchange and a number of other officials and financial experts. [4] The transactions will be made in Iranian rial, yen, euro and other major currencies. [5] The Iranian Oil Bourse will likely accept Russian ruble more. [6] The first transaction of the IOB took place at 9:30 the following morning, when 2200 tonnes of light duty polyethylene, held in 100 tonne cases, were traded. [3]

No French media has spoken about it ... what is this delirium ????

This is extremely important information: oil quoted in something other than dollars !!

[Woodcutter]

Ah! All right, I've been waiting for this to happen for a long time ...

[Christophe]

Total bought in Iran do you think?

So our media haven't talked about it?

[Targol]

On the other hand, a pity for our pennies if we no longer have the deflation of the dollar to cushion the oil increases ...


My joke was good, right?
Why don't you laugh?

NANNN but don't worry, Joe la Frite will soon attack Iran and the pug that 53% of badgers have squatted at the Elysee Palace will hasten to help him with his brand new army he is in the process of do it again !!!

By the way, if you have children, discourage them from getting involved if you don't want them to die to fill a few pockets that are already overflowing.

... I may be a bit cynical tonight, me ...

[Rulian]

Finally, the Iranian oil exchange that has been advertised for years!
Many peakniks (those who watch Peak Oil) have been relaying this rumor for several years. We thought that it would be a monetary bomb to destabilize the dollar and that it would lead to a fall of the dollar, explosion of the barrel, American economic implosion followed by military reaction. It is clear that we had a little dramatized ... Anyway Iran is not the Saudis. They represent only 3 or 4% of the world production. I think that the goal of Tehran is not (only) to annoy the USA, but that their priority is to diversify their reserves in currencies on the Yen and the Euro, while the Dollar loses more and more its statute of unalterable refuge. Frankly, instead of the Iranians, I would do the same.

[dirk pitt]

Iran is ONLY the 2nd producer country of OPEC and the 4th world: a straw.
that said, the teheran oil market is in a period of heat and the effect has not yet been felt because only the exchanges of derivative products are sold in euros, yen and others.
Crude oil is not yet sold in these currencies.

[Remundo]

Attention Rulian, Iran alone holds 10% of the world's oil reserves. It is considerable.

In addition, it is easily exploitable oil, of the same type as that of Iraq. These low extraction costs make it even more strategic

Iranian production is certainly a bit low, but this is not the relevant criterion when making medium / long term strategic decisions, such as a military invasion.

We thought that it would be a monetary bomb to destabilize the dollar and that it would lead to a fall of the dollar, explosion of the barrel, American economic implosion followed by military reaction. It is clear that we had a little dramatized ...

Of the 4 steps, "75% completed"
Only the last step remains ...

After this step, you will see how the US economy will get back on track ...

By the way, this link
http://fr.wikipedia.org/wiki/%C3%89nergie_en_Iran
describes Iran's energy situation fairly well ... 15% of the world's natural gas reserves too, just behind Russia

[Christophe]

Of the 4 steps, "75% completed"
Only the last step remains ...

+1

On this Rulian, I find you very "optimistic" ... because the $ is still falling quite a bit at the moment ... In this regard, you can tell all those who claim that their price increase is is China's fault: we pay the Chinese in $ ...

Obviously Iran is not Arabia but all the same ... We can clearly see (see speculation on cereals / biofuel) that small variations in quantity can have great consequences on prices ...

This is also the "magic" of capitalism.

[Remundo]

And voui ...

In a just-in-time and vital market like oil, where supply equals demand, as soon as demand increases a little, or supply drops a little, prices go up in proportion overdrive ...

A bit like 4 kids fighting like dogs if you take a part out of the 4 quarters of a cake ...

[dirk pitt]

moreover, it will be interesting to see the effect of the announcement made by Saudi Arabia to increase its production by 200.000 b / d in July after the promise already made in June to increase it by 300.000 b / d d or 500.000 b / d ie almost 0,6% increase in world production.
if the other OPEC countries agree ...