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4 posts • Page 1 of 1
- WA Hoop
- Level 5 dot.orger
- Posts: 5722
- Joined: Sat Jan 05, 2008 4:04 pm
- Location: Perth, Western Australia
I'm not sure the estimated 30 - 50M barrels of oil stockpiles held by the Iranians constitutes a flood but it will certainly add to the over supply that is forcing the oil price ever downwards. The thing is the U.S., Saudi Arabia & Russia are by far and away the biggest producers ergo the main cause of the problem.