Iran Update - July 24

[dan_s]

I've gotten several emails asking me if I am considering Iran's ability to bring more oil supply on to the market. My answers are "Yes I am considering it" and "I don't think that Iran has much more if any oil supply it can add to the market." Marshall Atkins at Raymond James said a few weeks ago that been shipping out oil at maximum capacity for months since Team Biden as not been enforcing the sanctions.

Keith Kohl:
"We can’t really blame the hype, especially considering that Iranian oil exports hit a fiveyear high recently. Unfortunately, what everyone fails to mention is that a lot of those barrels aren’t NEW supply but rather just oil that was being sold on the black market being put on the books.
Mind you, this is all while Iran’s oil industry is under sanctions… but we’ve learned how toothless sanctions truly are, haven’t we? Russia is just as happy to sell its crude to countries like India and China, or even to Saudi Arabia, which then simply refines it into products and sells it at a premium."

Iran, China, India, Saudi Arabia and even Russia have no fear of American sanctions. With our current Leadership Team, why should they.