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Saturday, 1 October 2016

Opec deal: How Riyadh and Tehran poured oil on troubled waters — FT.com

Opec deal: How Riyadh and Tehran poured oil on troubled waters — FT.com:

"Saudi Arabia and Iran are sworn enemies on opposite sides of proxy wars tearing through the Middle East.

But at a marble-halled conference centre on the outskirts of Algiers that is a legacy of the $100 a barrel oil era, there was an unexpected sign of conviviality this week: Iran’s Opec governor was chatting warmly with a member of the Saudi delegation, even posing for a photograph together.

It was the prelude to an agreement five hours later that should result in the 14-member bloc cutting production for the first time since 2008."



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