Iran-Saudi agreement to stabilize global oil market

SHANA (Tehran) – Iran’s former OPEC governor is convinced that Iran-Saudi rapprochement will be to the advantage of crude oil importers and exporters of the Middle East and could stabilize global oil market.

Mohammad Ali Khatibi, who made the remarks in an interview with Shana, added Iran-Saudi détente will also play a significant role in decision-making process of OPEC, and prompt some regional countries that follow the policies of Saudi Arabia to restore their relations with Iran.

China is broadening its all-out relations with differentcountries in the world while boosting its economic sector.

China has greatly developed economically in recent decades, but its political activities in the international arena have not been proportionate to its superior economic status, he said, adding, “That is why it has played a stronger role in this regard in recent years while safeguarding its interests.”

Iran and Saudi Arabia are two major energy players in the Middle East and China has always given top priority to calm in this energy-rich region, opined Khatibi, continuing that tension between Tehran and Riyadh benefits only the U.S., as Washington has served its own interests, including arms sales, in recent decades by causing tensions.

China is highly dependent on the Middle East’s energy, and consequently the country – unlike the U.S. – is seeking to stabilize the region, as it has made huge investments in the region’s oil and gas projects.


News ID 470368


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