The 500,000 Barrels of Iranian Oil

So over the weekend of Sun 16th Jan 2016, the nation of Iran has come in from the cold, with UN sanctions being lifted. Iran will start to export 500,000 barrels of crude oil. In a depressed oil market, this will only drive down the current price.

To Iran, what will 500,000 barrels of crude oil do ?

with Crude at $29.50 a barrel

500,000 x $29.50 = $14,750,000 a day

That is £10,341,700 = £10.3 Million a day.

Had currency for a nation that has been badly hit from internation isolation

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