Saudi Arabia has long said it would match any Iranian weapons development, but Jubeir's renewed vow came after US President Donald Trump pulled the United States out of an accord created to prevent Tehran's alleged quest for the bomb.
Oil prices wavered between gains and losses Friday morning but hovered near the more-than-three-year highs reached after President Donald Trump's decision to pull the US out of the Iran nuclear deal.
Oil prices rose in response to the announced measures. Prior to the signing of the Vienna agreement, Iran has exported one million barrels a day.
Even without disruption to Iran's crude flows, the balance between supply and demand in the oil market has been tightening steadily, especially in Asia, with top exporter Saudi Arabia and No.1 producer Russian Federation having led efforts since 2017 to cap output to prop up prices. "Other countries may accept that but here in Saudi Arabia we don't accept that", he said.
Malik estimated Saudi oil revenues, 440 billion riyals ($117.3 billion) in 2017, could be 7 to 9 percent higher this year than they would have been without Trump's decision.
Increased geopolitical tensions in the Middle East, plunging Venezuelan production, and now the US withdrawal from the Iran nuclear deal could push Brent Crude prices to $82.50 a barrel by summer, Goldman Sachs said Wednesday.
In other, possibly smaller ways, Trump's decision is bad news for some countries in the Gulf. "There will be more negativity, more highlighting of the risks", said one UAE banker. But they warned there was a risk that deteriorating conditions in Iran would push prices to $100, a level not seen since 2014. That's about 1 million barrels a day more than in early 2016. The UAE's exports to Iran are worth about 5 percent of its gross domestic product.
For Saudi Arabia, that is "fine" because it means the return of sanctions and ratcheting up pressure on Iran in the region, including by Israel.
Asked whether the United States might impose sanctions on European companies that continue to do business with Iran, Bolton told CNN: "It's possible".
And apart from Dubai and Oman, the wealthy Gulf oil exporting states have minimal trade and investment links with Iran, meaning they have little to lose.
But minutes after he spoke, Iranian President Hassan Rouhani said Tehran could resume uranium enrichment "without limit" if its interests are not assured by the remaining signatories.
But a tumble of Iran's rial to record lows against the dollar in the free currency market on Wednesday showed many Iranians expect tough economic times. Hong Kong's Hang Seng index added 0.5 percent to 30,552.57 while the Shanghai Composite Index dipped 0.1 percent to 3,159.22.
"It is not yet clear which concrete sanctions the USA will impose".
At the same time, the analysts said the global economy is growing at a healthy pace and supporting higher demand for oil.
Oman, the back-channel for US-Iran talks that paved the way for the 2015 accord, said Wednesday "the option of confrontation is not in the interest of any party".
Law enforcement plans another seat belt crackdown
The department is taking part in a national seat belt campaign, Click It or Ticket , that runs from Monday through June 3. During the campaign, officials say law enforcement will adopt a "zero-tolerance approach toward violators".
On Tuesday, January 30 RAY MICHAEL CHARLES sold $3.04M worth of Western Digital Corporation ( NASDAQ : WDC ) or 35,009 shs. Engineers Gate Manager Limited Partnership holds 0.16% in Western Digital Corporation ( NASDAQ : WDC ) or 30,045 shs.
Hart says the woman faces no charges, but if anyone had eaten the brownies it could have been considered a criminal act. There's just so much going on in the world, to create a problem like this is unnecessary and it's criminal", he added.
The promo then teases a new studio album "probably" in 2018, while there is definitely a tour that will happen later this year. Because not only have fans been waiting for a new Tenacious D album since 2012's Rize of the Fenix , but also the rent is due.
The final, as with all Champions League and Europa League games, will not be broadcast on any free-to-air television in the UK. Once you enter your postcode, Cable.co.uk will perform a live lookup and check all the available providers in your area.
The string of attacks comes as Indonesia, the world's most populous Muslim country, welcomes the first day of Ramadan. A number of terrorist attacks have occurred in Indonesia in recent days targeting churches and police stations.
The Pirates (24-17) recorded their major-league-leading seventh shutout Tuesday with a 7-0 win over the White Sox (10-28). Marte doubled and scored in the first inning but was removed from the game before his second at-bat in the third inning.
Cavaliers coach Ty Lue was asked about Smart's impact and noted: "Same impact he always has: just winning basketball". Smith missed all seven of his shots and didn't score a point in 27 minutes of Tuesday's Game 2 loss to the Celtics .
Motorola starts teasing Moto G6, Moto G6 Play launch in India
Moto G6 and Moto G6 Play are highly expected to arrive in India, but there hasn't been an official word on the matter until now. The company did not reveal when exactly the new handsets will launch, but the teaser simply states they're "coming soon".
Scam-hit PNB posts huge loss
The total income for the fourth quarter declined to Rs 12,945.68 crore from Rs 14,989.33 crore in the year-ago period. Currently, the probe agencies are investigating the matter and have also seized many properties of Nirav and Choksi.
Germany reveal provisional squad for 2018 World Cup
Grindel struck a more conciliatory note on Tuesday, saying , "People can make mistakes and we have to keep things in perspective". Petersen helped his club stay in the Bundesliga with 15 goals in 32 league appearances, eight of those as a substitute.
Say hello to Google One
Brandon Badger, Google's group product manager for Google One, told me the team looked at how people use the storage plan. The new Google One feature replaces all the existing Google Drive storage plans for all non-G Suite businesses.
The Honor 10 is practically just a cheaper Huawei P20
The device features a 5.84-inch Full HD+ 2.5D curved glass display with a resolution of 2280 x 1080 and a pixel density of 19:9. AI-accelerated Microsoft Translator software delivers instantaneous translation without you needing to be online.
Japan GDP On Tap For Wednesday
As of 9:15 a.m. local time, the 225-issue Nikkei Stock Average dropped 47.21 points, or 0.21 percent, from Tuesday to 22,770.81. It was the first decline in nine quarters, snapping the longest stretch of continued expansion since the late 1980s.
'Zero concern' as James says Cavs will bounce back
In contrast, the Celtics managed 33 points from 3-pointers, going a solid 11-for-30 from beyond the arc. The young Celtics got off to a quick start in game 1, and completely dismantled the veteran Cavaliers .
Japan reaffirms support for Iran nuclear deal
Protesters burned an American flag and railed against the United States and Israel after emerging from Friday prayers in Tehran . The statement said "the Iranian regime's reckless actions pose a severe threat to regional peace and security".