Saudi Arabia call 'Emergency Meeting' for the Organization of Islamic Cooperation Foreign Ministers"


  • Saudi Arabia called an 'Emergency Meeting' for the Organization of Islamic Cooperation Foreign Ministers.
  • The United States is “very concerned” about China’s purchases of Iranian oil.

Following the comments made by Israeli Prime Minister Benjamin Netanyahu on Monday, where he said that Iran has a secret nuclear facility and called for action against the Middle Eastern nation, Saudi Arabia called an 'Emergency Meeting' for the Organization of Islamic Cooperation Foreign Ministers to discuss Netanyahu's Move.

Market implications

This follows the new Saudi energy minister, Prince Abdulaziz bin Salman, confirming expectations that he would stick with his country’s policy of limiting crude output to support prices. However, the United States is “very concerned” about China’s purchases of Iranian oil, and there is a keen focus on such developments with respect to the price of a barrel of oil. 

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