Market news
14.01.2020, 10:19

Oil prices could plummet toward $40 per barrel - JBC Energy

According to the chairman of an energy research institute, oil prices could plummet toward $40 per barrel if the Iranian regime collapses.

Johannes Benigni, chairman of JBC Energy, made the comments on CNBC amid continuing unrest in Iran.

Iran's economy has also been under immense pressure from U.S. sanctions that were reimposed after President Trump withdrew from the 2015 nuclear deal. Former President Barack Obama's national security advisor on Sunday said Iran is closer "than ever before" to a possible collapse in the regime.

Benigni said a change in leadership in Tehran would have a major impact on energy prices. "For the oil market, it would mean that the likelihood of oil prices dropping towards $40 is very high," he said.

"Remember Iran could easily add 1.5 million barrels within a shortest period of time. Maybe even 2 million barrels, and that's a lot of oil," he said. On a larger scale, he said there isn't much upside potential for Brent crude.

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location