But, to put it simply, the Islamic Republic won the battle. With strong support from Algeria, Angola, Iraq, and Venezuela, Iran turned back the Saudi initiative for OPEC to raise production quotas. Iran's OPEC governor, Mohammad Ali Khatibi, reported that the Saudis "were very angry" at the outcome. This seems highly plausible, as the Kingdom's long-serving Oil Minister, 'Ali Na'imi, said publicly that the June meeting was "one of the worst meetings we have ever had."
Oil and the Iranian-Saudi "Cold War"
The Battle for the Middle Kingdom hasn't even started yet. Iran will lose ultimately if we get involved in a very public and military way and Saudi Arabia will remain as gigantic and as catered to as ever by the U.S. and Europe and Asia (China). In the end, it will be Saudi Arabia who will dictate as they have the U.S.and Europe by the short-hairs at this point in history. Maybe they choose to align with China/Russia at some point and then what??? $100 oil will look cheap, is what will happen.
Russia is whats holding us back from Syria and Iran at the moment IMO.
O'Bummer (ok, Spock) is not up to a confrontation with Iran much less a diplomatic one with Russia. He's allowed himself and the U.S. to be neutered in that regard.