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Oil Price

IEA: Iran’s crude oil production to decline by 700 kb/d by 2015; budget neutral oil price $130 a barrel

The new IEA Medium Term Oil Market Report 2010

estimates Iran’s oil production capacity will decline by 700 Kb/d by 2015.  The above graph shows the  change of crude oil capacities between 2015 and 2009, for various OPEC countries.

Assuming continuing domestic growth of oil consumption for a 70 million population  this means that Iran’s oil exports [...]