Saudi Arabia, Gulf Allies Join Israel in Backing US Iran Move

Saudi Arabia "will work with major producers and consumers within and outside OPEC to limit the impact of any supply shortages", a Saudi energy ministry official said on Wednesday, according to state news agency SPA. Saudi Arabia has resisted making a similar unconditional pledge. Although a reactor deal would produce the highest revenue, there are many other important areas through which the United States can assist the Saudi nuclear program-from developing its power grid, building related infrastructure to training personnel, and developing independent legislative body.

Separately, South Korea said on Wednesday it would seek U.S. exemptions to buy Iranian oil, a path many big oil consumers are likely to follow in the wake of new U.S. sanctions on Tehran, which will tighten world oil markets and push up prices.

This source had also said the impact of US sanctions on Iranian supplies needed to be assessed first and Saudi Arabia did not expect any physical impact on the market until the third or fourth quarters. "We have made it clear that if Iran acquires a nuclear capability, we will do everything we can to do the same".

To secure an agreement with the United States that will pass Congress, the Saudis may agree on a moratorium on enrichment and reprocessing.

"Europe and China will not fight against the US sanctions".

But further significant price increases threaten to complicate OPEC's strategy by accelerating the upturn in shale drilling, as well as denting the growth in oil consumption.

Google promises better verification of political ad buyers in US
Google has introduced new policies for US election ads across its platforms to improve transparency of political issue advertisem. In April, Facebook extended that rule to "issue ads" such as hot-button political topics in the US.

Saudi media outlets and commentators also had praise for Trump's controversial move.

The Sunni Saudi Arabia and Shiite Iran have long had tense relations, including backing opposing sides in Middle East conflicts such as those in Syria and Iraq, in what many outside experts consider a de facto proxy war. Countries seeking exceptions "are advised to reduce their volume of crude oil purchases from Iran during this wind-down period", the Treasury noted.

OPEC members need to start reacting now if they intend to avert an escalation of prices, rather than leaving the decision to December, by which time the market will be exceptionally tight and it will be too late. Its production accounts for about 4 percent of the world's oil supplies.

"We have managed to put together this new alliance between OPEC and non-OPEC".

Trump has consistently been a harsh opponent of the Iran deal, calling it "the worst" and "defective at its core".

Related news:

Hot News

isis-killer-beheading-video-story-top Sensex, Nifty continue to trade steady; banking stocks see a surge
May 09, 2018 - 01:00
The broader NSE index was up 0.21 % at 10,738.4 as of 0609 GMT, while the benchmark BSE index was 0.27 % higher at 35,301.6. ICICI Bank had on Monday reported that its net profit for January-March nearly halved to Rs 1,020 crore.

isis-killer-beheading-video-story-top Disney-Fox Deal Could Get Derailed By Potential Cash Offer From Comcast
May 09, 2018 - 00:56
For those unaware, Comcast was another corporate entity that proposed to acquire 21st Century Fox previous year . As Sonia Legg reports , Comcast has also filed for European Union approval for the Sky deal.

isis-killer-beheading-video-story-top Taylor Swift treats foster families to private concert
May 08, 2018 - 02:24
Taylor looked effortlessly glamorous with her blonde hair styled in loose waves as she held up the snake mic up to the camera. She hoped to be able to be well enough to see her idol's concert in Glendale this coming Tuesday, but her doctors refused.

isis-killer-beheading-video-story-top Rohan Dennis takes the lead as Elia Viviani wins stage two
May 08, 2018 - 02:23
Having gone off in the first wave of riders he set the fastest time of the day, stopping the clock at 12 minutes and four seconds. The Italian rider Elia Viviani ( Quick- Step Floors ) won in a bunch sprint after a ride of 229 km. that began in Beersheba.

isis-killer-beheading-video-story-top Death toll from Pakistan mining explosions climbs to 23
May 08, 2018 - 02:19
At least 23 labourers were killed and several others suffered injuries when two coal mines caved in near Quetta on Saturday. Two workers were rescued in an unconscious state, while bodies of two miners were recovered Saturday night.

isis-killer-beheading-video-story-top Hello, Childish Gambino Just Dropped The Music Video Of The Year
May 08, 2018 - 02:18
The video got a variety of reactions across social media from fellow musicians, journalists, and new and longtime Gambino fans. And if that wasn't enough, Gambino also released a new visual collaboration with Hiro Murai called " This Is America ".

isis-killer-beheading-video-story-top Fitbit introduces female health tracking, Android quick responses
May 08, 2018 - 02:18
The Versa even offers fitness guidance via Fitbit Coach and allows for swim tracking, boasting a water-resistance up to 50 meters. Fitbit has announced that two anticipated features will soon arrive for owners of either the Fitbit Versa or Fitbit Ionic .

isis-killer-beheading-video-story-top Atty. Gen. Sessions Vows to Prosecute All Who Illegally Cross Border
May 08, 2018 - 02:17
The conference comes a week after a group of Central American asylum seekers arrived at the USA border in Tijuana. Homeland Security Secretary Kirstjen Nielsen viewed Calexico's replacement border barrier project on April 18.

isis-killer-beheading-video-story-top Don Blankenship's New Xenophobic Campaign Ad Sparks Twitter Fury
May 08, 2018 - 02:16
Trump's son, Donald Trump Jr ., tweeted Thursday that he thinks a Blankenship nomination guarantees another Manchin term. Chao, he said, is "from China, so we have to be really concerned that we are in truth" putting America's interests first.

isis-killer-beheading-video-story-top "I give Jim my full support:" President endorses Renacci days before primary
May 07, 2018 - 15:15
His visit comes as Republicans across the nation are facing an increasingly challenging midterm election environment. Jim Renacci , lied about him in radio and print media.

isis-killer-beheading-video-story-top Guardiola demands Man City players break one more record
May 07, 2018 - 15:15
Really push to support these players, the staff who remains. "This team deserves it more than ever. I hope to see you soon, well done, goodbye".

isis-killer-beheading-video-story-top The World On arirang
May 07, 2018 - 15:15
Kim and South Korean President Moon Jae-In met in April and pledged to push for complete denuclearization of the Korean Peninsula. US military presence in the country has been preserved to deter North Korea since the war ended in 1953 without a peace treaty.

isis-killer-beheading-video-story-top Casualties mount in blast at Afghan voter registration centre
May 07, 2018 - 15:12
Unidentified armed men abducted five Indians working for Indian infrastructure company in Afghanistan's Baghlan province. But the Taliban, and the local cell of the Islamic state oppose democratic elections in the country.

isis-killer-beheading-video-story-top Day's strong finish seals Wells Fargo win
May 07, 2018 - 15:12
The former NCAA champion from OR picks up his best finish as a pro and sits inside the top 50 in the FedExCup standings at No. 49. There's no prize money that comes with being world No. 1, no trophy or FedExCup points.

isis-killer-beheading-video-story-top Don't Scuttle the Iran Nuclear Deal
May 07, 2018 - 15:12
The deal is formally known as the Joint Comprehensive Plan of Action and was agreed to by Trump predecessor Barack Obama in 2015. It promised not to seek the manufacture of nuclear bombs in return for worldwide lifting of sanctions on Iran.