EghtesadOnline: Saudi and Emirati officials are signaling rapprochement with Iran because they want to limit the scope of their confrontation with Iran to the political field, says a former diplomat, who maintains that Iran's response could determine the future of ties.
EghtesadOnline: Saudi Aramco’s trading arm bought 70,000 tons of naphtha from Indian Oil Corp on Friday at premiums not seen since 2013 as it seeks to plug a supply gap following Sept. 14 attacks on its facilities, trade sources said on Monday.
EghtesadOnline: Iran should seize the opportunity provided by the toned-down rhetoric from Saudi and Emirati officials to mend strained bilateral relations, says a political analyst, who believes that the interests of Persian Gulf states lie in lasting peace and security in the region.
EghtesadOnline: Iran has warned the United States that any action taken against it will be met with an "immediate" response, following allegations that it was behind attacks on Saudi oil installations.
EghtesadOnline: Foreign Minister Mohammad Javad Zarif warned that any US or Saudi military strike on Iran would lead to a devastating war, saying that Tehran hopes to avoid such a conflict.
EghtesadOnline: Saudi Arabia shut down half its oil production Saturday after a series of drone strikes hit the world’s largest oil processing facility in an attack claimed by Yemen’s Houthi fighters.
EghtesadOnline: OPEC oil output increased in August for the first month this year as higher supply from Iraq and Nigeria outweighed restraint by top exporter Saudi Arabia and losses caused by US sanctions on Iran, a Reuters survey found.
EghtesadOnline: Russian President Vladimir Putin said he agreed with Saudi Crown Prince Mohammed bin Salman to extend the OPEC+ deal at current production levels for the rest of this year and potentially into early 2020.
EghtesadOnline: A slim majority of senators voted Thursday to end US support for a Saudi Arabian military campaign in Yemen that has been blamed for tens of thousands of deaths and mass starvation. The vote provides the biggest rebuke yet of a three-year U.S. policy that the Trump administration says it has no plans to end.
EghtesadOnline: U.S. President Barack Obama's administration has offered Saudi Arabia more than $115 billion in weapons, other military equipment and training, the most of any U.S. administration in the 71-year U.S.-Saudi alliance, a report seen by Reuters has found.