No, it’s not a new Persian hit TV show, this NYT story is about the very real fear over what UN sanctions might do to Iran’s oil industry.
With excess capacity more an illusion than an option at this point (no matter what Saudi Arabia says to placate Western concern), any disruption in global supply stemming from Iran cutting its oil output will have an immediate effect on prices.
Iran produces twice as much oil as Iraq and is the world’s fourth largest producer. Any wonder why they don’t feel like being pushed around?