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Experts: Saudi-Iran use oil market to settle differences

The significant decline in oil prices, in recent times, has had a negative impact on the Iranian economy, which already suffers from the international sanctions imposed on it, at a time when many link the lower prices to the competition between Saudi Arabia and Iran.

Experts attribute the decline in oil prices to $88 a barrel, the lowest level in four years, to the increase in supply and the continuing bullish trend for the dollar, while suggesting that Saudi Arabia increases its oil production as a mean of pressure on Iran, which is trying to increase its production to cover the shortfall in the economy. They argue that Iran will not be able to beat Saudi Arabia in this regard and will be forced to soften its positions at the end.

Mer Gowanfader, an expert on Iranian affairs at the Herzliya Centre,told the Anadolu Agency: “Saudi Arabia is trying to harm the economy and military power of Iran through the reduction of oil prices.”

He added that the Iranian Revolutionary Guard, which supports armed groups hostile to Saudi Arabia, Syria, Iraq and Lebanon, has a stake in Iran’s oil sector

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