Markets Not Surprised by Iran Oil Sanction Waivers, Schork Says

The video discusses the anticipated reduction in Iranian oil exports due to sanctions, estimating a decrease by a million barrels. It highlights the impact of waivers and the market's reaction, including a speculative bubble in oil prices. The market had anticipated these sanctions, leading to a rally in oil prices, which is now deflating.

What is the expected reduction in Iranian oil exports before the sanctions take effect?

• 3 million barrels

• 2 million barrels

• 1 million barrels

• 500,000 barrels

How did the Iranian oil exports change over the summer before the sanctions?

• Increased to 2 million barrels a day

• Increased to 3 million barrels a day

• Decreased to 1.5 million barrels a day

• Remained stable at 1 million barrels a day

Which region was not included in the waivers for Iranian oil exports?

• Asia

• South America

• European Union

• Africa

What was the percentage increase in the Brent contract for December or January delivery from its summer lows?

• 22%

• 30%

• 10%

• 15%

What happened to the speculative bubble in oil prices after the market correction?

• It remained stable

• It deflated

• It continued to grow

• It burst completely