{"id":34856,"date":"2018-06-07T05:40:35","date_gmt":"2018-06-07T10:40:35","guid":{"rendered":"http:\/\/olduvai.ca\/?p=34856"},"modified":"2018-06-07T05:40:35","modified_gmt":"2018-06-07T10:40:35","slug":"next-stage-of-pressure-on-iran-lower-oil-prices","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=34856","title":{"rendered":"Next Stage of Pressure on Iran \u2013 Lower Oil\u00a0Prices"},"content":{"rendered":"<header class=\"entry-header\">\n<h3 class=\"entry-title\"><a href=\"https:\/\/tomluongo.me\/2018\/06\/06\/pressure-iran-lower-oil-prices\/\">Next Stage of Pressure on Iran \u2013 Lower Oil\u00a0Prices<\/a><\/h3>\n<\/header>\n<div class=\"entry-content\">\n<p>President Trump is stepping up his attack on Iran.\u00a0 He\u2019s now planning the long-game for maximum pressure.\u00a0 The news that Trump quietly asked Saudi Arabia to ramp up output by 1 million barrels a day is the key.<\/p>\n<p>From the analysis at Oilprice.com:<\/p>\n<blockquote><p><strong>Saudi Arabia and some of its close Arab allies in the Gulf, as well as the leader of the non-OPEC nations taking part in the production cut deal\u2014Russia\u2014are the only producers that have the spare capacity to increase production.<\/strong> So, in case of increased production from OPEC and allies, the potentially lower oil prices would hurt the other OPEC members that don\u2019t have the spare capacity to boost output.<\/p><\/blockquote>\n<p>The point here is to begin dropping oil prices now that the U.S. has blown out Turkey\u2019s finances and helped Saudi Arabia improve its fiscal position for the rest of the year with high oil prices.<\/p>\n<p>Turkey is a net energy importer and $75+ per barrel oil is a huge drain on its finances at a time when its currency and bond markets are under serious pressure from a strengthening U.S. dollar.\u00a0 Don\u2019t think for a second the Turkish lira wasn\u2019t helped in its fall.\u00a0 This is a classic hybrid war attack on a country not playing by U.S. rules.<\/p>\n<p>But, now that Trump\u2019s U.S. economy is threatened by high energy costs, he\u2019s looking to improve that situation while also putting a strain on Iran\u2019s finances through the double whammy of losing not only up to 1 million barrels of production per day but also getting $20-25 less per barrel.<\/p>\n<p>And right on target, oil shorts are piling on because that\u2019s what happens when the markets are told which way policy is heading.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Next Stage of Pressure on Iran \u2013 Lower Oil\u00a0Prices President Trump is stepping up his attack on Iran.\u00a0 He\u2019s now planning the long-game for maximum pressure.\u00a0 The news that Trump quietly asked Saudi Arabia to ramp up output by 1 million barrels a day is the key. From the analysis at Oilprice.com: Saudi Arabia and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3,5],"tags":[7844,441,588,592,595,5332,600,701,16963,818,827],"class_list":["post-34856","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","category-geopolitics","tag-donald-trump","tag-iran","tag-oil","tag-oil-price","tag-oil-production","tag-oilprice-com","tag-opec","tag-saudi-arabia","tag-tom-luongo","tag-turkey","tag-united-states"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/34856","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=34856"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/34856\/revisions"}],"predecessor-version":[{"id":34857,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/34856\/revisions\/34857"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=34856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=34856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=34856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}