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‘Saudi Arabia tapping into, depleting national oil reserves in anti-Iran bid’

9 Oct 2018 09:43

Islam Times - Saudi Arabia does not have the capability to increase its regular oil output and is tapping into its national oil reserves in an alleged attempt to replace Iranian oil in the global market, a commentator says.

Saudi Arabia has recently claimed that it is replacing the amount of Iranian oil that Riyadh thinks would be taken off the market after renewed sanctions by the United States against Iran hit on November 4.

Alexander Azadgan, a geopolitical analyst, said that prospect would not be possible without Saudi Arabia starting to use its strategic reserves, and thus depleting them.

“They (the Saudi officials) are actually tapping into their national reserve supplies,” Azadgan said, adding that the country did not have the capability “to produce any more oil” than it already was.

On Monday, Iran had already dismissed the Saudi claims that it is replacing Iranian oil in the market.

Story Code: 754859