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Quotes from the news wire:
Whatever sector you look at, companies will keep in mind being cut off from the U.S. financial system when deciding whether to trade with Iran.
– Mehdi Varzi
Many big oil traders are very worried about going into Iran due to Trump, and even the Chinese are trying to comply with what the Americans want.
The whole industry is in a mess, iran has 1.5 million barrels per day (bpd) of refining capacity, but it is the wrong capacity. Iran wants western technology and American technology specially.
They are currently spewing out pollution.
The first thing they will try and do is offload quite a lot of that storage. (Oil Minister Bijan) Zanganeh has already warned OPEC: make room for us. In other words, we are going to sell this oil at any price.
Floating storage is there to be put onto the market as soon as possible after some sort of agreement.
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"Mehdi Varzi Quotes." Quotes.net. STANDS4 LLC, 2020. Web. 30 Nov. 2020. <https://www.quotes.net/authors/Mehdi+Varzi+Quotes>.