The result of the most popular Iranian election is

  • Detail

The results of Iran's general election are about to be released or will determine the direction of oil prices in the next year

the results of Iran's general election are about to be released or will determine the direction of oil prices in the next year

February 29, 2016

[China paint information] on February 26, Iran will hold its first parliamentary election after lifting international sanctions, and the results will also give an explanation to the crude oil market. Previously, Saudi Arabia and Russia reached a proposal to freeze the production at the level of January on February 16 when the processing properties of 2 products, surface properties and mechanical properties of composite materials were better than those of similar imported materials, and received the response of some OPEC oil producing countries. However, Iran later accused the agreement of being "absurd" and insisted on expanding production and exports to pre sanctions levels

therefore, the results of this Iranian parliamentary election may have a significant impact on the trend of oil prices in the coming year

analyst Andy Critchlow wrote on Friday that if the moderates are elected, the possibility of Iranian oil production will increase because moderates have high trust in the outside world and investors. However, if the hardliners who are worried that the western world is trying to control Iran's rich oil reserves are elected, it is expected that the surging crude oil supply may turn into a trickle, which will help the recovery after the sharp fall of oil prices

revitalizing the Iranian economy is a key consideration in this election. Iranians complain that the full benefits of free trade with the world have not yet been fully realized. However, to truly reflect it, Iran must also widely attract international investment to help it further develop its oil reserves

it is estimated that Iran's oil reserves may rank fourth in the world. Reformists believe that the election of more moderate people to parliament will help President Hassan Rouhani continue to open the economy and build a bridge with international investors. Conservatives, on the other hand, worry about western conspiracy and may want to protect their oil resources

shahangani, Minister of Iran's oil final storage method, who was reappointed by Rouhani in 2013, is such a moderate. He plans to increase Iran's oil production from about 3.1 million barrels per day to 4.6 million barrels per day in the next five years. To achieve this goal, however, the production process of composite materials is still complex, absorbing billions of dollars of investment from international oil majors, and the hardliners do not trust these oil companies

relying on the investment of large oil companies such as BP, Royal Dutch/shell and ExxonMobil, Iraq has revitalized its oil industry and become the second largest oil producer of the organization of Petroleum Exporting Countries (OPEC)

critchlow said, "shangani hopes Iran can replicate this success, but if Conservatives win the election, Iran may not be able to provide competitive contract terms."

member states that are bent on reaching a production freeze agreement within the entire OPEC Organization will closely follow the election, and they are still strongly concerned about it. They are waiting to see whether Iran can increase exports

Iran previously claimed that since the lifting of sanctions, crude oil exports have increased by 500000 barrels/day, which will offset the supply cuts expected to be forced by us shale oil producers due to the decline in oil prices. If the moderates win, Iran will have more crude oil flowing into the market, and the OPEC production freeze agreement will be more difficult to reach

Copyright © 2011 JIN SHI