Saudi Arabia predicts huge spike in oil prices if no global action is taken ‘to deter Iran’

Workers are seen at the damaged site of Saudi Aramco oil facility in Abqaiq, Saudi Arabia, September 20, 2019. © Reuters / Hamad l Mohammed

Saudi Crown Prince Mohammed bin Salman warned that oil prices could skyrocket if the world does not join forces to deter Iran’s alleged aggression. He noted, however, that he would rather see a political solution to the conflict.

“If the world does not take a strong and firm action to deter Iran, we will see further escalations that will threaten world interests. Oil supplies will be disrupted and oil prices will jump to unimaginably high numbers that we haven’t seen in our lifetimes,” bin Salman told the CBS program ‘60 Minutes,’ which was aired on Sunday.

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