Reporting from Washington — In a new effort to persuadeIran to halt its nuclear program, the Obama administration and its European allies are asking Saudi Arabia to help them squeeze Iran's vital oil sector without driving up world energy prices and damaging the global economy.
Officials in the United States, France, Britain and other countries have been lobbying the Saudis in recent weeks to produce billions more barrels of oil to provide an alternative source for buyers of Iranian oil.
The goal is to keep global prices stable while cutting Iran's ability to sell oil on world markets. The move would come as Western governments add more sanctions to dissuade international customers from buying from Iran, now the world's fourth-largest oil exporter.
A Western official said the Saudis have become "the great hope" for enabling the West to avoid an oil price increase while pressuring Iran to abandon its nuclear development program. U.S. officials say Tehran is fast approaching the ability to build a nuclear weapon. Iran says it is enriching uranium to generate electricity in power plants. » | Paul Richter, Los Angeles | Tuesday, December 13, 2011
