outrageous predictions - the iran equation
DESCRIPTION
Could the easing of oil sanctions on Iran by the US affect the global oil market in 2014? This short infographic by Saxo Capital Markets looks at the percentage of oil that was produced in Iran in 2012 and also the top oil producers (by millions of barrels per day) around the world. Iran is shown to have produced 3.59 billion barrels, whereas Saudi Arabia, the US and Russia are all still the biggest producers (with 11.73, 11.11 and 10.4 billion respectively). Ole Hansen, Head of Commodity Strategy at Saxo, predicts that Iran’s sanction easing could mean “the global markets will become awash with oil” and the price of crude oil could drop to $80 a barrel.TRANSCRIPT
