Iran Opposes Sudden Hike In Iraqi Oil Output - Report

[nitewriter]

TEHRAN (Dow Jones)--An Iranian oil industry official says Iran cannot remain indifferent to a substantial hike in the production of crude oil in Iraq in the event the United States develop control over the Iraqi oil wells, the official Islamic Republic News Agency reported Saturday.

http://sg.biz.yahoo.com/030322/15/399p3.html

[BigDeputyDog]

Let me see...

If oil production is increased in post-Saddam Iraq, then the supply of oil to the consumer would be increased (given current production from other oil procuding countries remains the same), thus driving down the price per barrel. In other words, The other oil producing countries would not have the strangle hold on the market that it currently enjoys. No wonder Iran is against it!! :rolleyes:

BDD... :{)

[Techie2000]

I only have one thing to say to Iran about the oil.

:kissmy::kissmy::kissmy::kissmy::kissmy::kissmy:

[cdw]

lol, maybe that's why we lobbed 3 missiles over their side of the border... a hint to STFU.

[cdw]

Is Iraq at this time a member of any of the oil groups like Opec or whatever other ones there are?

[Biker]

Yes.