TheImmortal
SENIOR MEMBER
- Joined
- Mar 11, 2017
- Messages
- 7,091
- Reaction score
- -12
- Country
- Location
The moment iran increases oil production israel/gulf arab states will cry and cut their oil production.
Considering Israel doesn’t produce any major amounts of oil and OPEC is at max capacity, they would welcome Iranian oil:
OPEC's Barkindo says Venezuelan, Iranian oil could ease energy crisis
The oil and gas industry is "under siege" due to years of under-investment, the OPEC Secretary General Mohammad Barkindo said on Tuesday, adding the resulting supply shortage could be eased if extra supplies from Iran and Venezuela were allowed to flow.
www.reuters.com
An extra 1M Iranian barrels entering the market would benefit the Arabs as prices are stabilized, but shortfall is estimated at 2-3M barrels due to Ukraine conflict among other things. So it wouldn’t make a massive difference unless demand drops due to economic output dropping.