Read the Beforeitsnews.com story here. Advertise at Before It's News here.

By Next Big Future (Reporter)
Contributor profile | More stories

Story Views
Now:
Last hour:
Last 24 hours:
Total:

Russia and Iran take double hits from lower oil prices and sanctions

Friday, October 24, 2014 13:44

% of readers think this story is Fact. Add your two cents.

West Texas Intermediate Crude oil is at $81 per barrel. Brent crude oil is at $86 per barrel. Previously there up in the $105-115 per barrel range. Prices a few years ago were as high as $130 per barrel.

Iran and Russia are particularly hammered by lower oil prices. Both have sanctions placed on their ability to trade oil. Those sanctions lower the price that they can get for oil even more than the lower market price.

Only six buyers are still allowed to take crude from Iran – - China, India, Japan, South Korea, Turkey and Taiwan — down from 21 before the restrictions went into effect in mid-2012.

Saudi Arabia also has very low costs for its oil production. Saudi Arabia can take the long view and let lower oil prices eventually reduce higher cost oil production.

Source: http://nextbigfuture.com/2014/10/russia-and-iran-take-double-hits-from.html

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!

Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)

Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!

Nascent Iodine - Promotes detoxification, mental focus and thyroid health.

Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).

Comments

Online:
Visits:	1,599,952,908
Stories:	8,140,814