Oil Backed Up, Iranians Put It on Idled Ships
New York Times / THOMAS ERDBRINK and CLIFFORD KRAUSS
05-Jul-2012 (one comment)

International oil experts estimate that Iran is now warehousing as much as 40 million barrels — roughly two weeks of production — on the tankers. An additional 10 million barrels are in storage on shore.

“We are now forced to sell our most valuable export product in secret,” said Nader Karimi Joni, an Iranian journalist specializing in oil. “Iran had a great reputation; now we have to falsify bills of lading, hide the oil’s origin and store oil on ships.”

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Faramarz

دست فروشی در آبهای خلیج فارس!

Faramarz
Thu Jul 05, 2012 06:28 AM PDT

 

بیا و ببر که تاجرش ورشکست شد!

 

Another positive aspect of the oil sanctions is the positive psychological effect of millions of barrels of idle and available Iranian oil that drive the price of oil down. The future oil market for August delivery is mow $75 per barrel 


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