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Friday, January 08, 2016

Saudi Arabia Does Not Plan To Start a War With Iran

Image courtesy of ARABNEWS.

KSA rules out Iran war
Saudi Arabia does not plan to start a war with Iran because it would be “catastrophic” for the region, according to Deputy Crown Prince Mohammed bin Salman.

In a wide-ranging interview with The Economist magazine published on Thursday, he said: “It is something that we do not foresee at all, and whoever is pushing toward that is somebody who is not in their right mind. Because a war between Saudi Arabia and Iran is the beginning of a major catastrophe in the region. ... For sure we will not allow any such thing.”

The deputy crown prince defended the Kingdom’s execution of a terrorist from the Shiite community in the interview. “The court did not, at all, make any distinction between whether or not a person is Shiite or Sunni. They are reviewing a crime, and a procedure, and a trial, and a sentence and carrying out the sentence.”

Via CNBC, 

Saudi Arabia vs Iran: The oil war that isn't coming

"Iran has already said that it plans to ramp up production, aiming to export an additional million barrels per day into global markets within six months — a move that its oil minister says is "not seeking to disrupt the market," but instead help Iran regain lost market share. And while most reports say Iran and Saudi Arabia could increase their production until the price is into the single digits, experts told CNBC that the two Middle Eastern powers won't take things that far.
"I think [Iran's] primary interest will be their own economic priorities," said Hani Sabra, the head of Eurasia Group's Middle East and North Africa practice. "And their desire to sell oil is not driven by a desire to drive the price down to hurt the Saudis; it's driven by a desire to make money."
According to Again Capital's John Kilduff, "the math is simple" to show that Iran would make more money selling fewer barrels at a higher price."