IRAN Admits US is the target of Saudi Oil Price war but their are others.

To many observers, OPEC's refusal to cut production and thus shore up oil prices was the beginning of a price war with the United States so that Saudi Arabia, the cartel's most influential member, could regain the market share it had been losing during the recent American oil boom.

Now Iran's president, Hassan Rouhani, is saying that Riyadh, through OPEC, is also using "treachery" to harm the economies of fellow oil-producing Muslim states in the Middle East.

"The fall of the oil prices is not just something ordinary and economical. This is not due to only global recession," Rouhani told his cabinet on Wednesday. "The main reason for it is [a] political conspiracy by certain countries against the interest of the region and the Islamic world and it is only in the interest of some other countries."

Rouhani added, "Iran and people of the region will not forget such conspiracies, or in other words, treachery against the interests of the Muslim world."

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