How Successful is Al-Qaeda’s Strategy of Depriving the West of Essential Oil?
June 24, 2004 | Mordechai Abir
Developments in Saudi Arabia and Iraq should cause oil prices to decline further and to reach $30-35 a barrel. Iraq’s southern oil terminal exports are back to 1.0 million b/d after the bombing of three pipelines by al-Qaeda terrorists led to the temporary stoppage of all Iraqi oil exports. The Shi’ite territories in southern Iraq are hostile to al-Qaeda’s Sunni Wahhabi militants.