Are Saudis waging an oil-price war on Iran?

the Saudi oil minister has steadfastly refused calls for a special meeting of OPEC and announced that the nation is going to increase its production, which will send the price down even farther.

since Iran sells gasoline at a rate ... around 33 cents a gallon ... Iran is paying about $1.50 per gallon to subsidize domestic gasoline consumption ... eating up most of the state-run oil company’s discretionary funds.

Long term, traders say that the Iranian oil will become even more expensive, if not impossible, to extract because Iran does not have access to up-to-date exploration and drilling equipment.

Read the whole thing, though it’s a bit long, I found it to be informative

I wasn’t aware of this strategy (strategery?), but if it’s really going on, it goes to show how complex & multifaceted the US approach to Iran has been.

Follow up:
It's also quite possible that the Saudis are simply trying to reassert their control over the oil markets, discourage oil sands development and other emerging deposits that are unviable below a certain price, pacify consumer nations (such as the US), and show Russia that they can stop the gravy train whenever they feel like it by manipulating prices.