"Archrivals Saudi Arabia and Iran are expected to battle it out at Friday's OPEC meeting over leadership of the oil cartel at a time when it's facing the grave challenge of the U.S. shale oil boom, an issue that's divided the group.
The gathering in Vienna of the Organization of Petroleum Exporting Countries' oil ministers is slated to elect a new secretary-general. That's a largely ceremonial post but it plays a central role in shaping policy for the 11-member oil-exporting group, which has a direct impact on global oil markets.
The issue assumed heightened importance because OPEC faces losing much of its dominance of the global energy market and its ability to influence oil prices because of the shale oil boom that has turned the energy market on its head."
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