Big Gulf Arab economies may be winners as U.S. exits Iran deal | Reuters:
"Surging oil prices mean the big Arab countries of the Gulf — especially Saudi Arabia — look set to gain financially as well as politically from U.S. President Donald Trump’s decision to pull out of the Iran nuclear deal.
In 2014, Saudi Arabia was willing to see oil prices tumble during a supply glut partly, diplomats said, because cheaper oil cut the income of arch-rival Iran, limiting Tehran’s capacity to finance proxy wars against Saudi interests in the region.
It was a painful trade-off which also hurt the Saudi economy. Now, Riyadh faces an ideal situation: Trump’s decision appears likely to reduce Iran’s oil income while giving the Gulf Arab states room to boost their own energy exports. "
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