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Iran Says It Is Ready To Quickly Release 93 Million Barrels Of Oil Into The Market If A Nuclear Deal With The U.S. Is Finalized

OilPrice.com: Iran Is Ready To Release Millions Of Barrels Of Oil Into The Market 

Iran has considerable volumes of oil in floating storage that it could quickly release should a deal with the United States be finalized. 

In an update earlier this month, OilX claimed that Iran has some 40 million barrels, the bulk of which is probably condensate. 

Vortexa estimates Iranian crude in floating storage at 60 to 70 million barrels while Kpler has estimated them at 93 million barrels, Bloomberg reported on Sunday.  

Read more ....  

Update #1: Iran ready to send 93m barrels of oil into market post sanctions: report -- Tehran Times 

Update #2: Iran May Drain Offshore Oil Cache If Nuclear Deal Reached -- Bloomberg  

WNU Editor: A massive release of this oil onto world markets will result in a major decrease in oil prices for the short term. 

So why the offer now?

 I see this as an attempt by Iran to push the Biden administration to agree to Tehran's terms to reach a deal, and in return Iran will release this oil just weeks ahead of the US midterm elections.



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