Iran sets scene for tough OPEC meeting, opposes date change –

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Iran sets scene for tough OPEC meeting, opposes date change –

Iran has told OPEC that it opposes delaying the oil producer group’s next meeting, setting the scene for another fight with fellow members as U.S. sanctions put Tehran under unprecedented economic pressure with its oil exports down to just a trickle. OPEC gatherings are often fraught due to acrimony between Iran and its arch-rival Saudi Arabia, the group’s de facto leader and top global oil exporter. The last time the Organization of the Petroleum Exporting Countries failed to agree a clear oil-output strategy was in 2016, after Iran insisted on steeply raising its production following the lifting of Western sanctions against it.

– June 4, 2019 at 08:42AM

John Jason Fallows

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