Saudi Arabia using Oil as weapon against Iran

Saudi Arabia seems to be playing politics with oil, which has forced Opec to once again maintain its current levels of production at S30m barrels per day, thereby forcing downthe prices.Oil prices have declined by 35% in the year 2014, falling under $70 level for the first time after May 2010.Analysts feel that in order to weaken its arch-rival Shia dominated Iran and its friendly gestures towards west and also its influence in Syria and many of Saudi’s neighbours by rival militias and other means, this is Saudi plan to weaken the economy of Iran which is mainly dependent on gas and crude exports.
Tags:Saudi Arabia,Opec,Barrels,Oil prices,Syria,Crude exports,Iran,Trade Analysts,Shia,Production level

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