Even if Tehran can not afford to cut for long its exports of crude, which represents 80 percent of its foreign currency earnings, such an action would drive up prices and seriously hurt the economies of those countries which are calling for sanctions.
More Quotes from Frederic Lasserre:
The incidents in Nigeria are happening at a time when geopolitical events seem to be happening at a near-continuous rhythm such as production problems in Iraq, tensions in Iran and in Venezuela. It's a long list and it fosters a climate of very volatile oil markets.Frederic Lasserre
This is profit-taking ahead of the weekend.
Frederic Lasserre
Clearly that's a possibility. Iran has been so aggressive ... and has repeated several times very aggressive comment... Of course the market is very sensitive.
Frederic Lasserre
More than 50 percent on average of all these indexes is in oil and refined products. It's having a massive impact on the markets.
Frederic Lasserre
The psychology of the world market is such that Iran does not even need to be credible about carrying out its threat. It only has to bring it up for prices to skyrocket.
Frederic Lasserre
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Let me go to hell, that's all I ask, and go on cursing them there, and them look down and hear me, that might take some of the shine off their bliss.
Samuel Beckett
Second thoughts oftentimes are the very worst of all thoughts.
William Shenstone
Exaggeration is truth that has lost its temper.
Khalil Gibran