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Tuesday, 16 August 2016

Saudi-Iran rivalry may hinder any deal on production limits at Algeria meet | GulfNews.com

Saudi-Iran rivalry may hinder any deal on production limits at Algeria meet | GulfNews.com:

"The rivalry between Saudi Arabia and Iran to control market share may hinder any plans among oil producers to reach a deal on cutting or freezing production at next month’s meeting in Algiers, analysts said.
An informal meeting of Opec (Organisation of the Petroleum Exporting Countries) member countries is scheduled to take place on the sidelines of the International Energy Forum in Algeria from September 26 to 28, Mohammad Bin Saleh Al Sada, Qatar’s Minister of Energy and Industry and current Opec President said in a statement last week.
Iran is trying to increase its oil production after international sanctions were removed on the Islamic Republic earlier this year and is trying to regain its lost market share."



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