Iranians seek to placate Saudi Arabia - FT.com

Iranian officials used the meeting of oil producing nations in Vienna on Wednesday to set aside their differences with Saudi Arabia, agreeing to a common production ceiling of 30m barrels a day for the first half of next year.

Analysts said the Iranians appeared in no mood to challenge the Saudis at the Opec meeting after months of rising tensions that have pushed relations between the two Gulf rivals to a new low.

The consensus in Vienna comes just six months after Iran joined Algeria and Venezuela to argue against a Saudi-favoured move to increase production.

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