Who knows, it could spike up if something blows up, but could drop of Iran capitulates. Most speculation is fear mongering, no one knows what's coming.
Posted on 06/22/2025 10:01:14 PM PDT by E. Pluribus Unum
Second, the Organization of the Petroleum Exporting Countries (OPEC) has a significant amount of spare capacity that could easily fill the three-million-barrel gap. The world’s largest oil cartel essentially admitted this in a recent report, noting that countries did not meet their production goals after ending the voluntary reduction this past spring out of fear that more output could weigh on prices in the open market.
Third, other countries produce far more than Iran, including the United States (13.5 million), Saudi Arabia (11 million), Russia (11 million), Canada (5.5 million), Iraq (4.7 million), and the United Arab Emirates (4 million).
Lastly, the global economy is expected to register a supply surplus this year and in 2026. Even if three million barrels are eliminated from the marketplace, it might not be enough to flip it into a deficit. Remember, the United States is still producing record levels of crude oil, reaching nearly 13.5 million barrels per day in April. OPEC, too, would unwind its production freeze at a much faster pace than initially expected, energy analysts predict.
If accurate, interesting factors to keep in mind.
Over 90% of Iran’s crude oil exports are currently headed to China. According to Kpler (via The Wall Street Journal), China purchases more than 90% of Iran’s exported oil .
This trend has held through 2024–2025, with other private sources and analysts reaffirming that approximately 90% of Iran’s oil is sold to China .
Even closing the straight would decimate China’s economy
IBMFHNSIS - In Before mucus Fills His New Special Iran Sock
Who knows, it could spike up if something blows up, but could drop of Iran capitulates. Most speculation is fear mongering, no one knows what's coming.
Prices a.ready climbing in my town. Any old excuse to raise prices will do. Back up over $3.50 now
Didn’t Iraq touch their own oil wells just to F over the world during Desert Storm?
* Torch
An even better reason to kill the remainder of the Green New Scam and start drilling baby drilling.
Trump was right when he called so many ‘panicans’. There are so many people just wanting to panic over every since thing nowadays.
Why would Iran cut off its supply CHIna? 🤔
𝘗𝘳𝘪𝘤𝘦𝘴 𝘢𝘭𝘳𝘦𝘢𝘥𝘺 𝘤𝘭𝘪𝘮𝘣𝘪𝘯𝘨 𝘪𝘯 𝘮𝘺 𝘵𝘰𝘸𝘯. 𝘈𝘯𝘺 𝘰𝘭𝘥 𝘦𝘹𝘤𝘶𝘴𝘦 𝘵𝘰 𝘳𝘢𝘪𝘴𝘦 𝘱𝘳𝘪𝘤𝘦𝘴 𝘸𝘪𝘭𝘭 𝘥𝘰. 𝘉𝘢𝘤𝘬 𝘶𝘱 𝘰𝘷𝘦𝘳 $3.50 𝘯𝘰𝘸.
I noticed that prices jumped to around $3.30 just shortly before father’s day after holding around $3.00 a gallon for the last year or so.
Who saw that coming?
here we go with fear again
I have a personal rule. Any article with a title that’s a dire prediction followed by a question mark is automatically ignored.
The straits are not only used by Iran and there is no reason that they can’t let their own ships through
A rise in the price of oil due to the bombing of Iran’s nuclear facilities isn’t inflation.
Inflation means a general increase in prices across the entire economy over time, usually caused by too much money chasing too few goods.
But if the price of oil goes up because of a supply disruption, a war, or OPEC cutting production, that’s not inflation—it’s a relative price change. It’s the market reacting to changes in supply and demand for oil specifically, not a broad decline in the value of money.
Inflation would be if oil and food and rent and wages and everything else rose at the same time, persistently, without a clear reason tied to supply and demand. A spike in oil might cause inflation later if it pushes up the cost of many goods and services, but the oil price itself going up isn’t inflation—it’s just the market working.
Drill baby drill!
Step up US production. Open permits to drill and do emergency refinery permits. Time to stop US dependency on foreign oil.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.