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Iran Resists Saudi Gesture for Unity as OPEC Fractures Reappear
Iran resisted overtures from OPEC’s largest producer Saudi Arabia to restore a production target scrapped at the group’s last meeting in December. “I don’t agree with an overall output ceiling for OPEC,” Iranian Oil Minister Bijan Namdar Zanganeh said Thursday, before a meeting of the group in Vienna. Zanganeh wants the organization to return to a country-quota system, which he said might be difficult to achieve at today’s gathering. 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 ... (full story)
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