Thursday 12 July 2012

Saudi Arabia wins oil battle against Iran

We may not have noticed that we are actually in the heart of an international battle whose political, security and military implications cannot be predicted. The Arab, American and Iranian military forces have been put on maximum alert in the Gulf region. War against Iran’s oil exports has already started.

It seems that the first round in the series of the ferocious battles between Iran and Saudi Arabia, the two giant oil-exporting countries, was settled in favor of the latter. The Kingdom continued to produce oil regardless of the Iranian threats warning the Kingdom against filling the shortage in oil supplies that might result from the absence of Iran in the market. Iran, however, did not dare to close down the Strait of Hormuz nor did it attack the GCC oil installations, as it had threatened.

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