الرئيسية
The author is a Reuters Breakingviews columnist. The opinions
expressed are her own)
DUBAI, Jan 16 (Reuters Breakingviews) - Gulf oil producers
are unlikely to heed Iran's warning. Tehran cautions of
unpredictable consequences if Gulf producers increase production
to replace its embargoed oil. But Saudi Arabia and its allies
have strong incentives to fill any sanctions-supply gap.
Sunni-ruled Arab states stand to gain in the regional power
struggle for political and economic superiority if their shi'ite
neighbour is weakened.
Western sanctions will hurt Iran's economy, forcing Tehran
to sell crude at a discount to Asian buyers. Their impact on
global oil markets is less clear. If Iran can't export its usual
2.5 million barrels per day, a key issue is whether Gulf
producers -- led by Saudi Arabia, which holds most of OPEC's
estimated 3.2 million barrels per day of spare capacity -- will
pump enough to offset any shortage.
expressed are her own)
DUBAI, Jan 16 (Reuters Breakingviews) - Gulf oil producers
are unlikely to heed Iran's warning. Tehran cautions of
unpredictable consequences if Gulf producers increase production
to replace its embargoed oil. But Saudi Arabia and its allies
have strong incentives to fill any sanctions-supply gap.
Sunni-ruled Arab states stand to gain in the regional power
struggle for political and economic superiority if their shi'ite
neighbour is weakened.
Western sanctions will hurt Iran's economy, forcing Tehran
to sell crude at a discount to Asian buyers. Their impact on
global oil markets is less clear. If Iran can't export its usual
2.5 million barrels per day, a key issue is whether Gulf
producers -- led by Saudi Arabia, which holds most of OPEC's
estimated 3.2 million barrels per day of spare capacity -- will
pump enough to offset any shortage.