Iran could become collateral damage of OPEC decision

Al Monitor | OPEC members are expected to consider increasing oil production at their June 22 meeting in Vienna, something the United States reportedly has unofficially requested of some OPEC members.

International media have reported that the United States asked Saudi Arabia and a number of other OPEC members to cover the deficit that might occur on the international market due to US President Donald Trump’s decision to reimpose sanctions on Iran.

On June 2, representatives of Saudi Arabia, Kuwait, the United Arab Emirates (UAE) and Oman discussed this issue and concluded they should do their best to ensure the oil market’s stability. Political analysts consider this a possible positive answer to the US request. Yet the situation might be a bit different from what it seems.

First of all, it’s important not to fall under the influence of conspiracy theories. Indeed, the current leadership of Saudi Arabia is extremely anti-Iran. Both King Salman bin Abdul-Aziz Al Saud and Crown Prince Mohammed bin Salman consider Iran a regional rival; they rarely miss an opportunity to make life difficult for Tehran. Nevertheless, they’ve also never been known to rock the boat to the point of endangering Iran’s economic survival.

 

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