19 Apr 2024
Tuesday 12 June 2018 - 10:15
Story Code : 308491

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 hasunofficially requestedof some OPEC members.


International mediahave reportedthat 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 Trumps decision to reimpose sanctions on Iran.

On June 2, representatives of Saudi Arabia, Kuwait, the United Arab Emirates (UAE) and Omandiscussed this issueand concluded they should do their best to ensure the oil markets stability. Political analystsconsider thisa possible positive answer to the US request. Yet the situation might be a bit different from what it seems.

First of all, its 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, theyve also never been known to rock the boat to the point of endangering Irans economic survival.

 

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