A moment of silence for those Pakistanis here who bought Irani currency as a investment lol. Because someone told them after Iran defeating US it will be a next super power in the region lol. Well whether Iran will defeat US or not is a different question but buying a currency like that for investment is plain stupid.
Don't be so rash. People who bought the ruble before Trump's election in 2024 would have profited handsomely if they sold a year later in 2025. Iranian currency could be in a good place in 2027 or 2028 when a deal is clinched between the US and Iran sometime this year. A deal that will include sanctions relief.
Something doesn't add up. If we are truly exporting 2 million barrels per day at $105 (average price for Iran's heavy and light crude oil products), even with a $5-$10 discount to China, then our oil revenue has already doubled compared to last year. We sold our heavy oil less than $60 per barrel before January. Why is the Iranian currency going down the toilet like never before if our main source of income has doubled? We must be hemorrhaging money somewhere. It seems that the trustees haven't been curbed at all.
Never listen to that friend of yours for economic advice lol
It is always a fool's errand to predict future prices. However, 3 years back, WTI was above $100 for over 4 months. How many even remember that? I don't see major impact beyond small general inflation. People will economize by avoiding wastage. Oil remaining above $100 for a long time, say a few years, is an excellent training to force society to think about life when oil runs out, which it must.
I don't know. I remember WTI price went negative for a couple of days during the covid because there was a huge drop in oil consumption worldwide after the pandemic hit the planet. I don't remember lasting high oil prices since the US invasion of Iraq.
Oh Bhai. Khuda da wasta tenu.
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