RE: Gyp - Oil Price16 Jul 2018 16:42
SS. On KSA , they prefer oil @$65 per barrel according to geo political specialists in the US, as higher oil prices enrich countries around them more.
On Tariffs, I did not explain well enough, its highly doubtfull China will go along with any US Sanctions on buying Iranian Oil, China now views Trumps sanctions as an attack on there economy wich grew at 6.8% in the last quater .
Trump using strategic oil reserves to lower the price for election gains is what one comes to expect from a condo salesman, thats how I see him and that my peronal view of him.
Bush and Obama administration used the US strategic oil reservess to put pressure on Russia in the past and it actually worked driving oil down to lesss than $30 per barrel.
On Oil prices I dont have any paticular view, only point I would make is the UK price per gas per litre is obseen, when one considers VAT went up from 15% in 2011 to 20% that as put £100's of billions extra into treasury, but where its gone is anyones guess.
Iran will get its oil to market still, it is only that it wont be acccepting all of the payments in currency , it will get them in swaps.
Shale production of oil will contimue to increase, and if the US had any sense it woul find ways to build pipeline to the UK and europe for natural gas, and Trump complaining about a pipeline to Germany is par for the course.
Nice to see the world moving to renewables slowly:)