Posted on 03/31/2020 1:20:33 PM PDT by BeauBo
The global oil market was rattled by the coronavirus pandemic, which has slashed international demand for crude. The damage to Iran, the world’s fifth largest oil producer, has been particularly disruptive. The price of Iranian heavy crude fell below $14 per barrel March 31 — not good news for a government that has based its fiscal budget on the rate of $50 per barrel...
To curtail the epidemic, Iran is currently practicing social distancing amid its new year holidays. The measures come at a time when an unspecified number of Iranians are already traveling, as the government initially refused to impose strict bans...
Nevertheless, a perceived failure to robustly implement those bans in some areas continues to draw criticism. Aziz Akbarian, a member of the Iranian parliament, claimed foreign pilgrims are still touring the holy city of Qom, the epicenter of the virus in Iran. The government’s belated containment measures have also fueled worries about an infection backlog caused by new transmissions as travelers return to their hometowns, further exacerbating the situation.
(Excerpt) Read more at al-monitor.com ...
Between their foreign wars, the pestilence they have allowed to spread, and the total collapse of their economy, they are going to be as broke as broke can be. It is hard to imagine how bad things are and will be there.
We can count our blessings.
May the entire leadership of that country die from their own ungodly decisions.
This is meant to make Americans feel pity and guilt for the sanctions on poor pitiful iran. They are doing what they are supposed to do. Do not relax them.
Chinese demand is down as well. Not only does Iran sell it cheaper, they sell less. I’m watching Iran very closely because it keeps teetering on the brink and recovering, but this time maybe not.
It’s a pity they won’t be supporting their proxies throughout the region.
Maybe they can get jobs at McDonalds or Walmart.
Are they in a shiite storm?
“Not only does Iran sell it cheaper, they sell less.”
“Mohammad Nahavandian (Iran’s vice president for economic affairs) told Iranian state TV that oil inventory (I think they mean volume) has dropped to one-eighth of where it stood in 2011.”
Bottom Line: The great bulk of their oil and gas revenue has dried up, and that was the bulk of their Government budget, as well as what paid for the imported goods they depend upon extensively. An epic economic train wreck. Inflation and shortages, unemployment and bankruptcies, war and pestilence - God’s judgement seems clear.
This is meant to make Americans feel pity and guilt for the sanctions on poor pitiful iran.
IMO it saves us a few nukes.
I thought Muslims were immune. Allah must be sheltering in place.
“I thought Muslims were immune.”
The Sunnis don’t count the Shi’ites as muslim, unless it is to their advantage somehow.
but But BUT Inshallah!!! or some sh1t
I don’t care or feel bad. They got 150 billion bucks from our last resident POS. Use that money. Not one dime from the USA.
Are they still blaming us for the virus?
Good time to launch a large scale devastating decapitation airstrike on the Iranian regime.
Once the old Mullahs are dead the young Persians might have a chance to overthrow their Muslim dictators.
His last name looks Armenian. Is he a convert to Islam?
Am I google?
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