10.01.2014 - How Iran deal may bring down oil prices, cut Saudi Arabia to size
The Iran-US bonhomie may be bad news for traditional Iran-baiters like Saudi Arabia and Israel, but it certainly is good news for oil-importing developing countries like India and China as international oil prices are unlikely to see major spikes and may even go southwards if Iran has its way. Apart from Iran, countries like Iraq and Libya too are bent upon roiling the Opec politics and challenge the dominance of Saudi Arabia in consistently keeping the international oil prices above $100 per barrel. The Indian basket has been ruling around the $104-$110 mark...................................Full Article: Source