Iran: Fall in oil prices is 'treachery'

[mick silver]

Iran: Fall in oil prices is 'treachery'http://l.yimg.com/os/152/2012/04/21/image001-png_162613.png (http://www.ap.org/) By ALI AKBAR DAREINI 5 hours ago











TEHRAN, Iran (AP) — Iran's President Hassan Rouhani said Wednesday that the sharp fall in global oil prices is the result of "treachery," in an apparent reference to regional rival Saudi Arabia, which opposed production cuts.
Oil prices have plunged by more than 40 percent since June to around $65 a barrel, placing severe strain on Iran's economy, which is already hobbled by international sanctions imposed over its nuclear program. An OPEC meeting last month failed to reach agreement on production curbs, mainly because of Saudi opposition.
Rouhani told a Cabinet meeting Wednesday that the fall in prices is at least partly "politically motivated," the result of a "conspiracy against the interests of the region, the Muslim people and the Muslim world." His comments reflect concerns among Saudi Arabia's rivals that the kingdom is capable of withstanding the revenue losses and is forcing lower oil prices to damage their economies.
"Iran and people of the region will not forget such conspiracies, or in other words, treachery against the interests of the Muslim world," he said.
Sunni Saudi Arabia and Shiite Iran are longtime rivals that are fiercely divided over the civil war in Syria, where Iran and Russia support President Bashar Assad while Saudi Arabia backs the mainly Sunni rebels fighting to topple him.
OPEC controls about 40 percent of the world oil market and Saudi Arabia, the largest oil exporter, produces nearly 10 million barrels a day — a third of the OPEC total. Riyadh has thus far refused to go along with Iran, Russia, Nigeria and Venezuela, all of which heavily rely on petroleum exports and want to drive prices up. Saudi Arabia maintains it is opposed to cutting production because of fears its market share could erode.
OPEC's failure to agree on production cuts accelerated the decline in the price of oil, which was already sinking in part because of weak global economic growth and a U.S. oil boom that has swelled supply.
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Politics & Government
Business
oil prices
Saudi Arabia
TEHRAN, Iran
OPEC


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[mick silver]

dam yahoo will let anyone make a comment good are bad they's days ... Saudi Arabia is a country that would do anything to keep the king and his family in power .this is a country that violates human rights in the most horrible way. Yet no one has anything to say about it. This is why the saudies will not do anything to anger America and therefore be eased by the media about their human right violations. This is why we are in Syria, this is why we oppose Iran. They simply do not get on their hands and knees when we try to order them around

[mick silver]

How wearing the shoes on the other foot sparks outrage by OPEC members. It was no problem to them when they squeezed the entire globe into Recessions , Inflations and Depressions. Today these deflation are happening because Economies are reeling from high oil prices which raped every nation. Now this OPEC dog is barking up the tree again to raise oil prices. Little does he know that If Europe, Japan, Australia are crumbling then Europe 27 nations will sure to get pains in coming months. Oil prices is heading down where is supposed to be, if not, many nations will keep falling further and Oil will be plentiful.

[Twisted Titan]

Everybody is getting pummeled but it is sheeer lunacy to believe russia will cave before the US

Places like iran hardship like that is a way of life.

Anything approaching 1/10th of that in america would be full blown mad max.