Ann: Roc-1 Well Update, page-12

Those 12 tankers had been slowly filling up over the last 6 months, since Iran signed the Nuclear deal, in preparation for the lifting of sanctions.

This is a "ONE" off event.

Iran currently does not have the capacity to increase 500,000 barrels a day, due to its poor infrastructure.

It will take 6 months to a year to get to that stage.

Lastly, the price of oil is determined by futures trading - basically, investment banks like Goldman and Morgan making bets on where it will go to - it tend to go from one extreme to the other.

Right now, the pendulum is on the extreme downside, despite a surplus of 2% in the actual physical market.

The smallest of changes to the deficit (consistent deficit even small) will swing that pendulum to the extreme upside and banks like Goldman will again be predicting $100 USD a barrel.