A example of an oil platform exploring for offshore gas. Iran says Saudi Arabia make take action to stop the slump in oil prices. Photo: Wikimedia Commons.

Reuters – Falling world oil prices will hurt countries across the Middle East unless Saudi Arabia, the world’s biggest crude exporter, takes action to reverse the slump, Iran’s deputy foreign minister told Reuters.

Hossein Amir Abdollahian described Saudi Arabia’s inaction in the face of a six-month slide in oil prices as a strategic mistake and said he still hoped the kingdom, Tehran’s main rival in the Gulf, would respond.

Read full story.