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Iran Ready to Flood Market with Oil


January 18th, 2016 09:30 AM

About 48 hours after Iran had its trade sanctions lifted, they are telling the world that they are ready to flood the oil market with an extra 500,000 barrels of oil per day. In 2015 the world oil producers had a surplus of over 1.5 million barrels a day. With Iran’s half a million being added we can logically see that if oil production continues as is, there will be at least 2 million barrels of surplus oil every day.

On the other hand, OPEC is predicting a production drop for 2016 of about 660,000 barrels per day. This is probably due to the many oil producers who are about to, or have already gone out of business.

Currently, oil prices are at 2003 lows and predictions for the near future price per barrel of oil has gone down to between $10 and $20 per barrel. We broke the $30 per barrel mark last week and oil has been on the minds of investors ever since.

Here is a great video we found today by CNBC International explaining the Iranian oil situation as it stands today.



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About Dr. Ron Caskey

Dr. Caskey has over 30 years experience as a trusted financial professional. Over the past three decades, he has helped scores of valued clients create, protect, and distribute wealth in an effort to greatly enhance their overall quality of life. He lives with his wife Jeannine in Firestone, Colorado. They have raised 5 kids and have 11 grandkids.

Dr. Caskey's top priorty is working with you to both learn about your particular situation and to make sure you are fully educated so that together we can find the solutions that work best for your particular situation.

*Disclaimer* - *Guarantees are backed by the financial strength and claims-paying ability of the issuing company. Bonus annuities may include higher surrender charges, longer surrender periods, lower caps, higher spreads, or other restrictions that are not included in similar annuities that don’t offer a bonus. By responding you may be contacted by an insurance agent. Annuities are designed to meet long-term needs for retirement income. They provide guarantees against the loss of principal and credited interest, and the reassurance of a death benefit for beneficiaries. This website and its contents, downloads, videos and audio files are designed to provide general information on the subjects covered and is provided to you for informational purposes only. Pursuant to IRS Circular 230, it is not, however, intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. Please note that Ron Caskey does not give legal or tax advice. Please consult your tax advisor or attorney. Ron Caskey is a registered and licensed insurance agent resident in the state of Colorado, non resident in multiple other states. This website focuses on insurance products in an attempt to avoid volatility. The term "Safe Money" should not be understood as signifying a guarantee or a guaranteed investment.*
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I am not, nor have I ever been, nor do I ever want to be a “Financial Planner, Investment Adviser, Certified Financial Planner”. As a result, I do not provide investment advice, nor do I sell securities. Therefore, I have NEVER, nor will I EVER recommend, suggest, or imply to anyone that they should sell a security or move a security into an Indexed Annuity. I only provide my clients choices in Life Insurance Company Products and explain to customers how the products work. After they get the information, it is my client’s choice, not mine, whether to buy an Insurance Product and what assets to use to do so.**
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