Wednesday 19 June 2019

OPEC wrangle over meeting date exposes deepening #Saudi- #Iran rift - Reuters

OPEC wrangle over meeting date exposes deepening Saudi-Iran rift - Reuters:

OPEC’s month-long wrangle over a date for its next meeting has highlighted a changing dynamic in the group with decisions increasingly driven by long-time leader Saudi Arabia in tandem with non-OPEC Russia, angering member states like Iran.

Decision-making has never been easy in the Organization of the Petroleum Exporting Countries, which groups 14 Arab and non-Arab oil producers, some of which have longstanding rivalries.

But tensions have become more pronounced as Iran has sought a bigger say while its exports tumble due to U.S. sanctions and as a new Riyadh-Moscow axis has developed. OPEC sources say this means future meetings and decisions may be even more fraught.

No comments:

Post a Comment