Clifford Krauss, NY Times, has a nice piece summarizing the President’s decision to exit the Iranian nuclear deal here…
“A cascade of unpredictable events may follow the administration’s action, one that could ultimately lead to compromise. If not, there could be even greater instability across the Middle East and possibly an oil-price spike.
The biggest wild card is how Iran will respond.”
“Iran currently contributes roughly 3.8 million of the 98 million barrels of oil produced daily worldwide. Most energy experts say that a revival of American sanctions on banks and other companies that do business with Iran could reduce Iranian production and exports by at least 10 to 15 percent, and that drop could take six months or more to be felt.”
Do read the whole thing…
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