PressTV: Why has Riyadh deployed an oil weapon?

November 7, 2014

2012: What's the 'real' truth?

An analyst says recent oil policies of Saudi Arabia may be aimed at pressuring Iran and Russia.An analyst says recent oil policies of Saudi Arabia may be aimed at pressuring Iran and Russia.

Fri Nov 7, 2014 7:44AM GMT

By Yuram Abdullah Weiler

“A beleaguered House of Saud believes it may force Moscow to abandon its support of Damascus, and Washington to scotch a deal with Tehran.”

— Journalist Pepe Escobar

The recent downward trend in oil prices due to increased production by Saudi Arabia has led to speculation that perhaps Washington and Riyadh are using crude oil price as a weapon to put pressure on Russia and Iran.  

While sustained low oil prices will impact the Iranian and Russian economies, the repercussions in the United States may be even greater. So is Saudi Arabia merely seeking to increase market share or are there other issues lurking in the background?

The world anxiously awaits the next scheduled OPEC meeting on November 27, which just happens to…

View original post 1,229 more words

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