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Saudies want Iran to cut production too, but Iran was forced to cut production because of sanctions and they missed lots of revenue when oil price was high. Ira
by mars4rp 10y ago
Saudies want Iran to cut production too, but Iran was forced to cut production because of sanctions and they missed lots of revenue when oil price was high. Iran is not going to cut production or cap it. Saudies have 2 bad choices let the prices fall or stay the same or let cut production and let Iran get more revenue and lose market share to her.
- salimmadjd 10y agoIran is trying to get back to the production quotas of pre-sanction period. Saudis do not want that (they opposed the Iran deal). They also want to prevent any investment in Iran oil sector by lower the lure of potential windfall from foreign investors until the next US administration is in power to potentially reverse Obama's policy.