Crude Oil Price Forecast from EIA

[dan_s]

From EIA: http://www.eia.gov/petroleum/weekly/arc ... _print.cfm

As you can see in the chart on page one, there is a very wide gap between the high and low analysts' forecasts. Obviously, what OPEC says at the end of this month will have a BIG impact on oil prices.

If Trump rips up the Iranian Nuke Deal, it will also have a BIG impact on oil prices.

[bearcatbob]

Does anyone have a handle on how much of the Iranian production is from storage or increased production. I would think by now it would production,

Also, the Iran deal is a ship that has sailed. The Euros and others will not go back and Iran has been enriched by more than $150 billion. No wonder Iran can play hardball with Saudi.

[dan_s]

I've heard that most of the crude that Iran had and still has in storage is heavy/sour crude that no one wants. That stuff trades in a different market and has little impact on Brent.

Read this: https://www.iea.org/oilmarketreport/omrpublic/

I've also heard that Iranian production has basically peaked and that they need more outside investment to increase production much further. With Trump in the White House, I doubt many companies will be eager to invest in Iran.

I did notice in the IEA Oil Market Report (at link above) there is no mention of Iran.