Soon the competition in the oil market risks escalate even further when Iranian oil will go into the game on the lifting of sanctions against America - based on AMarkets.
If Iran allow international inspectors to examine its nuclear facilities and agrees to freeze its nuclear program for 10 years - is very likely that sanctions will be lifted. Obama almost all signed. His decision is almost agreed to in Congress. Come soon - until 17 September. If everything is agreed - Iran is likely to return to the market in early 2016.
This means that Iran will soon be able to resume oil production and export of raw materials. Estimates about the possible supply volumes vary from analyst to analyst - but with one all agree: Iran is ambitiously. Iranian officials promise to raise production in the near future after the lifting of sanctions on the 500 th. Barrels per day. After a further short period of time daily production volume can be increased by another half a million barrels per day. Iran intends to return to the oil supply market, regardless of market conditions - will fall below or oil will go back to $ 100 - in the words of the Minister of Energy of the country.
Currently, the market is experiencing a slowdown in oil production. However, the rates are low. Demand for oil is growing slowly - but, again, not so fast to the arrival of Iran did not affect negatively on the oil price. If Iran returns to the game - the oil will fall further. For US citizens it is good news - gasoline will cost even less. For producers of shale oil - bad news because finally have to leave the market.