Iran on one side, Saudi Arabia on the other: Export giants find no solution to the oil crisis

Iran's oil export revenues plummeted by 44% in October compared to the first half of the year, while the US emerges as the world's leading oil producer and exporter at the expense of Saudi Arabia. Brent crude oil prices stabilize at around $115 per barrel.

The ongoing crisis in the Gulf is shaking the global energy market, with Brent crude oil prices stabilizing at around $115 per barrel. According to data from the ayatollahs' regime, Iran's oil export revenues fell by 44% in October compared to the monthly average in the first half of the year, mainly due to the American naval blockade imposed in July but only effective from mid-September. Meanwhile, the US is emerging as the world's leading oil producer and exporter at the expense of Gulf giants. Saudi Arabia, which produced 8.3 million barrels per day in September compared to 13.8 million in the US, is seeking creative solutions such as storing oil outside the country. Aramco CEO Amin Nasser said the company is looking for partners to increase oil storage outside Saudi Arabia. Experts note that the solution is temporary and many customers are turning to the US. The article quotes Yaki Dayan, former Israeli consul in Los Angeles, and Dr. Yoel Guzansky from the INSS, who analyze American strategy and Saudi resentment.