Saudi Arabia looking into possible effects of OPEC collapse: Reports

Agencies
November 9, 2018

Moscow, Nov 9: Saudi Arabia’s state-funded think tank is looking into potential effects of the dissolution of the Organization of the Petroleum Exporting Countries (OPEC) amid US pressure over oil prices and investments withdrawal from Saudi Arabia in the wake of the killing of journalist Jamal Khashoggi, media reported.

The study by the King Abdullah Petroleum Studies and Research Center (KAPSARC) was part of a wider paradigm of rethinking the role of the cartel by Saudi senior government officials, The Wall Street Journal reported on Thursday.

However, the research does not reflect Riyadh’s willingness to leave the organization in the near future, according to the outlet, citing people familiar with the matter. Instead, the study was viewed by the Saudi government officials as an exercise on how markets might react to the fall in oil demand which might result in the collapse of OPEC, the newspaper added.

Saudi officials consider the research a high-priority project, according to the outlet.

“The kingdom knows demand for oil won’t last forever . So you need to think past OPEC . You also have a NOPEC act being considered [in the United States],” a senior adviser familiar with the project told The Wall Street Journal referring to a draft bill aiming to designate OPEC as an illegal organization, which was introduced by US lawmakers who oppose the cartel.

Adam Sieminski, the KAPSARC’s president, told the outlet that the research was based on the previous study suggesting that the absence of measures on the part of OPEC to stabilize oil markets would negatively impact the global economy. Sieminski noted that the research had not been launched in relation to US President Donald Trump’s criticism of the cartel.

However, the senior adviser suggested that the study provided an opportunity to take the US statements into consideration.

The newspaper noted that the Saudi government spokesperson and the country’s Energy Ministry had not answered to the requests for comment.

Trump has recently criticized OPEC, noting its monopoly over high oil prices. The president also called on Riyadh to boost oil production in a move to squeeze the Iranian oil from the market.

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News Network
November 10,2024

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The media office in the Gaza Strip, where the Israeli regime has been waging a genocidal war since last October, says as many as 188 Palestinian journalists have been killed since the onset of the brutal military onslaught.

The office provided the figure on Saturday, naming four journalists as the most recent victims of the onslaught.

It identified the foursome as Zahraa Mohammad Abu Sukheil, Ahmad Mohammad Abu Sukheil, Mustafa Khadr Bahar, and Abdel Rahman Khadr Bahar.

The office said it “strongly condemns the targeting, killing, and assassination of Palestinian journalists by the Israeli occupation and holds it fully responsible for committing this heinous crime.”

“We call on the international community, international organizations, and those involved in journalistic work worldwide to take action against the occupation, pursue it in international courts for its ongoing crimes, and pressure it to halt the genocide and the targeted killings of Palestinian journalists,” it said.

Earlier in the day, the office said the Israeli regime had bombed the tents sheltering journalists and displaced persons at the al-Aqsa Martyrs' Hospital in the city of Deir al-Balah in central Gaza for the ninth consecutive time.

The atrocity that claimed the lives of two people and injured 26 others came as part of “the genocidal crimes committed by the Israeli occupation army against hospitals, civilians, and displaced persons,” it said.

The media office held the regime and the United States, its biggest ally, as well as other countries aiding the genocide fully responsible for such systematic crimes.

At least 43,552 Palestinians, mostly women and children, have been killed and 102,765 others wounded since the launch of the war that followed a retaliatory operation by Gaza’s resistance groups.

The fatalities include 44 people, who were killed across the coastal sliver, in the most recent phase of the military onslaught.

As many as 24 of the victims were killed in the northern part of the territory, where the regime has markedly intensified its deadly attacks for weeks.

They included an eight-year-old child and a five-year-old one, who lost their lives after Israeli warplanes targeted a group of minors filling up jerry cans with water alongside their mother at the Jabalia Refugee camp.

Gaza’s heath ministry, meanwhile, said a number of victims remained under the rubble and in the streets following Israeli airstrikes, saying ambulances and civil defense teams could not reach them due to the sheer extent of the destruction caused by the raids and obstruction caused by the regime.

Also on Saturday, the Integrated Food Security Phase Classification (IPC) report, a United Nations-backed assessment, warned that famine was looming in northern Gaza amid escalated Israeli aggression and the regime’s near-total siege of the targeted areas.

The alert from the Famine Review Committee warned of "an imminent and substantial likelihood of famine occurring, due to the rapidly deteriorating situation in the Gaza Strip."

On October 17, the body projected that the number of people in Gaza facing "catastrophic" food insecurity between November and April 2025 would reach 345,000, or 16 percent of the population.

The IPC report classified that figure as Phase 5 -- a situation when "starvation, death, destitution, and extremely critical acute malnutrition levels are evident."

The Israeli military, however, questioned the report's credibility.

"To date, all assessments by the IPC have proven incorrect and inconsistent with the situation on the ground," the army said in a statement, denouncing "partial, biased data and superficial sources with vested interests."

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News Network
November 15,2024

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Iran’s Islamic Revolution Guards Corps (IRGC) has killed or captured 69 terrorists linked to the Israeli spy agency Mossad during a major counterterrorism drill in the country's southeast, its spokesman says.  

General Ahmad Shafaei, the spokesman for the “Martyrs of Security” drill, said Friday that a total of 23 terrorists have been killed and another 46 arrested in various clean-up operations ever since the IRGC Ground Force launched it in the Sistan and Baluchestan province on November 1.

Seven terrorists have also turned themselves in during the period.

“The undeniable fact about terrorists is that they rely on arrogant powers, particularly the intelligence service of the wicked and vicious Zionist regime," Shafaei said.

“Unfortunately, weapons and munitions at terrorists’ disposal are among the most sophisticated ones in the world. This accounts for their heavy dependence.” 

The official stated that several members of the disbanded terror teams were non-Iranian nationals, who had been hired by foreign intelligence agencies to carry out acts of sabotage and terror inside Iran.

In a most recent operation, six terrorists were arrested and four others were eliminated, three of whom were non-Iranians, he added. 

On October 26, ten members of Iran's law enforcement forces were killed in a terrorist attack in the Gohar Kuh district of Taftan in the Sistan and Baluchestan province.

The so-called Jaish al-Adl terrorist group claimed responsibility for the assault, which was one of the deadliest in the province in recent months.

The group has carried out numerous terrorist attacks in Iran, primarily in Sistan and Baluchestan.

Its tactics include the abduction of border guards as well as targeting civilians and police stations within the province to incite chaos and disorder.

In January, Iran launched a military operation during which the headquarters of the Pakistan-based terrorist group was targeted in missile strikes, destroying its infrastructure.

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News Network
November 12,2024

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The UN humanitarian coordinator for Lebanon has warned that the “picture of life in Lebanon remains grim,” highlighting an "alarming" level of human suffering and significant humanitarian consequences due to the ongoing Israeli carnage.

Imran Riza, the UN Deputy Special Coordinator and Resident and Humanitarian Coordinator for Lebanon (UNSCOL), provided a stark overview of the Arab country's dire circumstances in a statement released on Monday.

“The current picture of life in Lebanon remains grim. Yesterday, airstrikes reportedly killed 23 people, including seven children, in the village of Aalmat in Mount Lebanon,” Riza said on X.

An airstrike in the city of Tyre on the same day resulted in the tragic deaths of five siblings from a single family, all of whom had special needs, according to his statement.

He added that in the last week, Israeli airstrikes have killed at least 241 individuals and left 642 others injured in Lebanon, as reported by the Ministry of Health.

“In the past month, more than 185,000 people have fled their homes in their search for safety within the country, bringing the total to over 870,000 people internally displaced,” Riza said

The UN official highlighted that numerous individuals, including the elderly and those with health issues, are staying behind while witnessing the ruins of their ancestral homes.

He urged for the swift safeguarding of civilian people and infrastructure, emphasizing the necessity to uphold international humanitarian law and end the ongoing violence.

Lebanon’s National News Agency reported that Israeli forces bombed a house in the town of Maydoun in Bekaa on Monday night, killing three people and destroying the house.

Earlier, Israel bombed the northern town of Ain Yaaqoub, killing at least 14 people.

The killings came as Israeli military continued to pound Lebanon, bombing shops selling electrical appliances in the southern city of Tyre and carrying out air raids on the towns of Shamshtar in eastern Baalbek and Roumine in southern Nabatieh.

Lebanon’s Ministry of Health said Israeli attacks killed at least 54 people across the country on Monday.

Israel’s merciless attacks continue despite calls from the UN Security Council for an immediate ceasefire and directives from the International Court of Justice urging measures to prevent genocide and alleviate the dire humanitarian situation in Gaza and Lebanon.

In Lebanon, at least 3,243 people have been killed and 14,134 others wounded in Israeli attacks since the war on Gaza began on October 7, 2023.

The Lebanese resistance movement Hezbollah opened a support front for Palestinians in Gaza only a day after the Israeli regime unleashed its genocidal war on the besieged territory.

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