Replies to post #13224 on VelocityShares Credit Suisse 3X Long Crude ETN (UWTIF)

[sothis]

Iran would only be temporary. They won't be able to ramp up production until the end of this year or the middle of 2016 even if a deal gets decided this week. I'm sure they'll cause volatility upon some news, but people will realize it has literally no effect on supply/demand mechanics for half a year.

[napling02]

Only thing IRAN has is 30,000,000 million barrels in floating storage. Which they will probably sell 500,000 barrels per day over a 60 day span. They aren't dumb and they don't want to crash the market either.

I think they can only increase their daily production by about 1,200,000 million barrels. It will take them 18-24 months to modernize their oil fields with new technology.