• 4 minutes Trump has changed into a World Leader
  • 7 minutes China's Economy and Subsequent Energy Demand To Decelerate Sharply Through 2024
  • 8 minutes Indonesia Stands Up to China. Will Japan Help?
  • 10 minutes US Shale: Technology
  • 13 minutes Which emissions are worse?: Cows vs. Keystone Pipeline
  • 17 minutes Shale Oil Fiasco
  • 15 mins Boris Johnson taken decision about 5G Huawei ban by delay (fait accompli method)
  • 6 hours We're freezing! Isn't it great? The carbon tax must be working!
  • 6 hours Prototype Haliade X 12MW turbine starts operating in Rotterdam
  • 5 hours Might be Time for NG Producers to Find New Career
  • 3 hours Environmentalists demand oil and gas companies *IN THE USA AND CANADA* reduce emissions to address climate change
  • 31 mins Angela Merkel take notice. Russia cut off Belarus oil supply because they would not do as Russia demanded
  • 23 hours What's the Endgame Here?
  • 4 hours Wind Turbine Blades Not Recyclable
  • 5 hours Phase One trade deal, for China it is all about technology war
  • 52 mins Swedes Think Climate Policy Worst Waste of Taxpayers' Money in 2019
  • 21 hours Beijing Must Face Reality That Taiwan is Independent
Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

Oil Prices Up As Iran Prepares For "All Out War"

An American or Saudi military strike on Iran because of the weekend attacks on Saudi oil infrastructure would result in an “all-out-war,” Iran’s Foreign Minister Javad Zarif told CNN in an exclusive interview on Thursday.

“I’m making a very serious statement that we don’t want war, we don’t want to engage in a military confrontation, we believe that a military confrontation based on deception is awful,” Zarif said, adding “But we won’t blink to defend our territory.”

On Saturday, the Abqaiq facility and the Khurais oil field in Saudi Arabia were hit by attacks, which resulted in the temporary suspension of 5.7 million bpd of Saudi Arabia’s crude oil production, or around 5 percent of global daily oil supply.

U.S. President Donald Trump, Secretary of State Mike Pompeo, and Energy Secretary Rick Perry all blamed Iran for the attack despite a statement from the Iran-affiliated Houthi rebels in Yemen who claimed responsibility for the attacks.

Referring to the attacks and the U.S. claim that they came from Iranian territory, Zarif told CNN:

“They are making that up, why do they want to make that up that it [attack on Saudi oil infrastructure] was from Iranian territory,” noting that it was the Yemenis who claimed responsibility for the attack.

U.S. Secretary of State Mike Pompeo met with Saudi Crown Prince Mohammed bin Salman on Wednesday to discuss the attacks on the vital Saudi oil facilities.

“The U.S. stands with #SaudiArabia and supports its right to defend itself. The Iranian regime’s threatening behavior will not be tolerated,” Secretary Pompeo tweeted after the meeting.

On Thursday, Iran’s Zarif tweeted “Remnants of #B_Team (+ambitious allies) try to deceive @realdonaldtrump into war. For their own sake, they should pray that they won’t get what they seek.”

Speaking to CNN, Zarif rejected the possibility of negotiations with the U.S. unless Iran receives full sanctions relief.   

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage




Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play