The International Energy Agency's (IEA) attempts to bring down the oil price have sparked a war of words with Opec, the 12-country cartel that produces 40pc of the world's crude ouput.
Opec is also divided between groups of members such as Saudi Arabia and Kuwait which would be happy with lower prices, and others such as Iran and Venezuela, which do not want to raise production and dampen prices.
Yesterday, Brent crude increased by $2.20 (£1.38) to $108.19, amid concerns about tensions in the oil market and a falling dollar.
No comments:
Post a Comment