BLOOMBERG.COM
Saudi Arabia faced resistance from Iran to proposals to restore a production target scrapped at OPEC’s last meeting in December as efforts to build unity were undermined by persistent divisions within the producer group. While Saudi Arabia signaled on Wednesday it’s ready to consider a surprise deal with fellow OPEC members, attempting to mend divisions that had grown so wide many dubbed the organization as good as dead, Iran opposes a group production target.
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Saudi Arabia faced resistance from Iran to proposals to restore a production target scrapped at OPEC’s last meeting in December as efforts to build unity were undermined by persistent divisions within the producer group. While Saudi Arabia signaled on Wednesday it’s ready to consider a surprise deal with fellow OPEC members, attempting to mend divisions that had grown so wide many dubbed the organization as good as dead, Iran opposes a group production target.
Read more>