Oil Rally Confirmed, page-548

... Iran Production is Over Hyped Story by Oil Traders & Media..
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( Fact -> Iranian Oil contains high Sulphur and Mercury (Geology). India & China have facility to process Iranian Oil. Western Refinery will not even touch it (High Processing Cost hence Low Margin). What ever Extra Oil Iran Produced so Far, 400,000 bpd ended in India(50% of entire extra oil). Most likely rest of Extra Iran Oil will end up in India.(Crude for Gasoline Deal)
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... Here is my bet for today's Opec meeting
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1) Production Freeze Deal is Done (Between Russia, Qatar, UAE, and Saudi)
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2) Irrespective of Iran, Saudi will Agree with Production Freeze (which they are already doing).
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3) In 2016 Russia's Production will decline(Natural Depletion) by around 2%. No new investment. hence decline is imminent.
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4) Other Opec & Non Opec Members will make sure Iran abide by their request to limit production around 4 mpd

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