Register Now"OPEC includes non-Arab countries [and] perhaps they will not be willing to do it (oil embargo)," Mohamed Oun told S&P Global Commodity Insights in a Nov. 21 interview. OPEC member Iran has been the most vocal producer within the group calling for a Muslim oil embargo, which has so far been rejected by the Gulf producers. The 1973 embargo created an unprecedented global oil crisis that led to the quadrupling of prices and gasoline shortages in the US. Iranian calls for an oil embargo come amid massive voluntary oil cuts from Saudi Arabia and Russia, the two countries co-leading OPEC+. These cuts are on top of the 2 million b/d OPEC+ curbs that started in November, 2022 and have been extended till the end of 2024.

Source: Libya Today November 22, 2023 12:38 UTC