Saudi Arabia could raise oil output again as sparring with Iran returns
Old disputes between Saudi Arabia and Iran resurfaced at a meeting of OPEC experts last week aimed to work out details of cuts for the next meeting on 30 November, with Riyadh saying it could raise oil output steeply to bring prices down if Tehran refuses to limit its supply, according to five OPEC sources. "The Saudis have threatened to raise their production to 11-12mn bpd, bringing oil prices down, and to withdraw from the meeting," one OPEC source who attended the meeting said. (Reuters)
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