Saudi moves in oil market ‘rivalry’, Shargh says citing Khatibi

Bloomberg: Saudi Arabia’s activities in the crude market appear like rivalry and Iran’s oil officials need to be wary, Shargh reported, citing Iran’s OPEC governor Mohammad Ali Khatibi.

Bloomberg

By Ladane Nasseri

Saudi Arabia’s activities in the crude market appear like rivalry and Iran’s oil officials need to be wary, Shargh reported, citing Iran’s OPEC governor Mohammad Ali Khatibi.

In the worst-case scenario Saudi Arabia would have an additional output capacity of up to 2 million barrels and “can harm the balance by producing this amount,” Khatibi told the Tehran-based newspaper in an interview.