The last barrel ///

Just when the Middle East was beginning to shine as a bright spot for E&P activity in a depressed global market, the diplomatic spat that erupted between Saudi Arabia and Iran on Jan. 3 has now cast doubt on that image. This came a day after officials in Riyadh executed 47 individuals convicted of terrorism. Among those executed was Shiite cleric Sheikh Nimr al-Nimr, who was held in high regard by the Tehran regime. In response to his execution, large groups of protestors on the night of Jan. 2, and into early Jan. 3, stormed the Saudi embassy in Tehran, as well as the Kingdom’s consulate in Mashhad. The crowd in Tehran threw stones and Molotov cocktails at the embassy, starting a fire in part of the building.

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