Iran Turning Off The Oil Tap

Discussion in 'Wall St. News' started by eagle488, Dec 3, 2006.

  1. If you want to be patriotic, you can say that you hate the Iranians.

    However, these guys never fail on Sunday. Everytime I wake up on Monday and turn on the news, these guys never fail.

    As an American, I cannot support the Iranians. As a capitalist, I can see where they are going with all this and they have taught me a valuable lesson.

    Always long oil into the weekend. . .

    Iran official sees need for OPEC oil cut - agency
    Sun Dec 3, 2006 10:36 AM GMT

    TEHRAN (Reuters) - Iran's OPEC governor said on Sunday that the oil cartel needed to cut production further because of a slowdown in world economic growth and rising oil stocks, the official IRNA news agency reported.

    Since it agreed to cut production from November by 1.2 million barrels per day, Ministers in the Organisation of the Petroleum Exporting Countries (OPEC) have expressed differing views on whether the group needs to reduce supplies further.

    Some are some concerned about high fuel stockpiles, but others are reluctant about a additional cut because crude prices are holding firm above $60.

    "Some factors including a decrease in the world's economic growth and accumulation of oil stocks and production, shows that the market needs another cut in OPEC production," Iran's OPEC governor, Hossein Kazempour Ardebili, was quoted as saying.

    Iranian Oil Minister Kazem Vaziri-Hamaneh was on Saturday quoted as saying OPEC may cut its crude production again if prices fall.

    "There is such a possibility if the prices fall" he said. "This cannot be predicted right now."

    Iran, OPEC's second crude producer after Saudi Arabia, has said it has cut its oil output by 176,000 bpd as its part of the total OPEC production cut from November.


    © Reuters 2006. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

    Close This Window
  2. OMG man you really have serious issues.
  3. You were too young to remember the embassy incident. If you saw those American hostages blindfolded and paraded around on televison, then you would know what I mean when I make that statement. The Iranian President was there marching around the hostages from place to place.

    People like you soon forget these incidents and then get shocked when airliners smash into buildings.

    Laugh now and call everyone crazy. Have a good laugh, on me. It wont be long before your friends and family are paraded around on television blindfolded or buried underneath the rubble of a building.

    You never take your eye off of those that are not on your side.

  4. Good luck with that "long OIL over the weekend" strategy.
  5. Gotta say I agree.

    Also have Jewish people in my family - who Iran has vowed to wipe off the face of the earth. Pretty.
  6. MrPaul



    I guess I have "issues" to then.

    Informative post, thank you Eagle
  7. sharp10


    I just hope the rest of the country wakes up soon.
  8. Yup I guess you were having patriotic feelings too when we invaded Iraq.

    Just buy Oil Futures now as Eagle suggested. It's a no-brainer!
  9. sharp10


    Thanks Casper, I have seen this LADY before. Too bad she is in the minority.
    #10     Dec 3, 2006