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Started By
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Who purchases Iranian oil?
Posted on 3/2/26 at 3:53 pm
Posted on 3/2/26 at 3:53 pm
Follow this closely. China buys it. Very little goes elsewhere.
Any jump in prices is just knee jerk reaction.
Any jump in prices is just knee jerk reaction.
5
Posted on 3/2/26 at 3:54 pm to Jjdoc
It’s only 3% of total global output on a daily basis.
OPEC announced yesterday or earlier today that they are increasing output.
OPEC announced yesterday or earlier today that they are increasing output.
Posted on 3/2/26 at 3:55 pm to Deplorableinohio
Exactly. This is just a massive opportunity for me to make the money
Posted on 3/2/26 at 4:00 pm to Jjdoc
quote:
Follow this closely. China buys it. Very little goes elsewhere.
True. but China will pay more to get it elsewhere, so it will push up prices in the short term. plus the fact the strait is getting closed will effect global supply/oil futures.
THankfully the US gets ~60% of our oil domestically. of the 40% we import 60-70% of that comes from Mexico/Canada. we only get about 5-10% from SA and Iraq
Posted on 3/2/26 at 4:03 pm to Jjdoc
China purchases about 90% of Iran's oil or about 12% of its daily needs
Posted on 3/2/26 at 4:08 pm to Jjdoc
quote:
Who purchases Iranian oil?
Chiner.
China purchases about 80% of Iranian oil.
Oman, Syria, Afghanistan, Pakistan and probably India make up the difference.
With this displacement of oil from Iran you know Putin is cutting backdoor deals with China right now. Russia loves this war.
Posted on 3/2/26 at 4:11 pm to GumboPot
quote:
you know Putin is cutting backdoor deals with China right now.
People are going to lose their shite when it is revealed China and Russia are with the good guys these days.
Posted on 3/2/26 at 4:18 pm to Jjdoc
Also - Russia sells through Iran by proxy.
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