Saudi Arabia can boost oil output


The Iran deal, whatever its flaws and despite the president's lies and exaggerations on Tuesday afternoon, was clearly keeping Iran from acquiring a nuclear capacity from now until the deal began to expire in 2025.

The United States and other powers agreed to lift some economic sanctions under the 2015 deal in return for Iran agreeing to rein in its nuclear program.

The president was quoted saying the following.

Kuwait said in a statement that it "understands and respects" Trump's decision. "It didn't bring calm, it didn't bring peace, and it never will".

The official said that Iran and Iraq are eager to resume Kirkuk crude oil swap soon but there are few logistics issues such as the exact number of Iranian and Iraqi tankers and which path they have to take, which is going to be rectified and the swap will be started soon. The peaceful nature of the Iranian nuclear program has repeatedly been confirmed by the International Atomic Energy Agency (IAEA).

Egypt backed the Arab League's message and called for Arab participation "especially that which is related to the possibility of amending the nuclear deal with Iran".

On May 1, Israeli Prime Minister Benjamin Netanyahu presented what he alleged was "new and conclusive proof" of violations, and claimed Iran had lied about its capabilities at the time of the agreement's signing.

Iran, which has not cut production, is an OPEC member and it has been opposed to the production deal continuing and is likely to continue to be opposed.

Congress agenda only to oppose me, disrupt Parliament: Modi
The Prime Minister, who has been campaigning intensely in the state, urged people to throw out the Congress and Siddaramaiah. He has asked the party workers, supporters to "tie up the hands, legs" of people and "bring them" to vote for the BJP .

It would be hard to replace Iranian oil given the "commercial terms" offered by Tehran, he said.

"The reality is clear".

It also remains uncertain as to how buyers of Iranian crude will respond to the United States decision. The JCPOA is in America's interest - it has significantly rolled back Iran's nuclear program. He demanded to "fix" it, threatening to withdraw the USA from the deal.

The United States and Saudi Arabia appear to have reached a high-level political understanding in which the United States will intensify pressure on Iran in exchange for Saudi Arabia agreeing to help avoid a spike in oil prices.

Saudi Arabia now pumps around 10 million bpd, but has capacity of around 12 million bpd - a surplus of two million bpd.

Arab League Secretary General Ahmed Abul Gheit stressed on Wednesday the need to review the Iran nuclear deal.

Members of Iranian parliament struck a similar tone, burning a US flag and chanting "death to America".

Meanwhile, Iraqi Oil Minister Jabar al-Luaibi said on Wednesday that OPEC will discuss a possible shortfall in global crude oil supplies following Trump's decision to withdraw from the Iran nuclear deal.