Home / Business / Saudi prince warns of ‘unimaginable’ oil prices

Saudi prince warns of ‘unimaginable’ oil prices

Saudi prince warns of ‘unimaginable’ oil prices

In a television interview, Saudi Crown Prince Mohammed bin Salman called for global action against Iran and warned that oil prices could otherwise rise astronomically.

Bin Salman blamed Iran for the September 14 attack on Saudi oil facilities that cut its production by half and led to a spike in oil prices, reports Deutsche Welle.

“If the world does not take a strong and firm action to deter Iran, we will see further escalations that will threaten world interests,” he told CBS program 60 Minutes.

“Oil supplies will be disrupted and oil prices will jump to unimaginably high numbers that we haven’t seen in our lifetimes,” he said in the program aired late on Sunday.

The US, France, Germany and Britain have backed Saudi assertions that Iran was behind the attack, as opposed to the Houthi rebel group that has claimed responsibility.

The crown prince said he would prefer a political rather than a military response to Iran, as a war between Saudi Arabia and Iran would collapse the global economy.