Saudi Arabia today expressed doubts over Iran's claim it could block the Strait of Hormuz and said it was ready to pump more oil if sanctions threatened to cut Iranian oil exports.
“I personally do not believe that the Strait, if it were shut, will be shut for any length of time. The world cannot stand for that,” Saudi Arabia's Oil Minister Ali al-Naimi told CNN [Reuters, 16 January].
Iran yesterday warned Arab oil producers not to raise oil output to replace its crude. But Naimi said Riyadh could increase production by about 2 million barrels per day “almost immediately.”