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60 comments on Shutting Down Heavy?

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bigfootvegan on October 12, 2005 - 3:39pm Permalink | Subthread | Comments top
is it because it will be worth more in the future?
and with refineries running at full tilt there is no point at the moment..
do iran need money right now?

here is an article from reuters covering todays oil prices

http://today.reuters.com/investing/FinanceArticle.aspx?type=businessNews&storyID=2005-10-12T1758 14Z_01_KNE260239_RTRUKOC_0_US-MARKETS-OIL.xml

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bigfootvegan on October 12, 2005 - 3:50pm Permalink | Subthread | Parent | Comments top
sorry my browser is having problems with the right hand side of the screen.
missed the obvious point of keeping oil for later
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mw on October 12, 2005 - 7:11pm Permalink | Subthread | Parent | Comments top
Iran is typically an OPEC hawk as I recall, generally not in favour of over-producing.

There is a lot of oil in the system and not a lot of excess capacity to refine it; they might simply be making a prudent call in keeping with this history on production limits.

Lastly... perhaps discussed elsewhere or in the Bloomberg piece, Iran is still at odds with the EC, UN and US regarding its nuclear program. This may be sending a message in a subtle way. /mw

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60 comments on Shutting Down Heavy?

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