This means that this member of the Organization of Petroleum Exporting Countries (OPEC) can export oil, which will bring waves of panic to the already oversupplied and flooded crude oil market.
Compared with the time when the international crude oil price began to dive in the summer of 20 14, as of Monday (65438+ 10/8), the crude oil price in the Asian market has dropped by about 70%.
Different experts evaluated the impact of Iran's re-entry into the global crude oil market on the oil industry.
Eugen Weinberg, a commodity researcher at Commerzbank, said that, unlike in the past, as an early weather vane, the decline in crude oil prices was affected by the oversupply of the Organization of Petroleum Exporting Countries, rather than the weak demand (the demand for crude oil is booming and the demand has never been so strong). Therefore, the current situation of crude oil market has brought good news to the economic and financial markets of crude oil consuming countries, not bad news.
UBS analysts Giovanni Stauvono and Dominic Schnider believe that the crude oil market is already oversupplied, and it is expected that the economy of emerging economies, especially China, will slow down and the demand for crude oil will further decrease. At this inopportune node, Iran is unlikely to increase crude oil production.
Market participants may work together to lead to the worst result, that is, the supply of crude oil market is further oversupply and the price is further diving. This will force some non-OPEC countries, especially the United States, to reduce crude oil production. These adjustments will cause many companies related to crude oil to default, and the entire crude oil industry will reduce investment.