Tension between Iran and Saudi Arabia over Tehran’s plans to raise oil output spilled into the open on Wednesday as Opec rolled over its production target in the belief a wall of supply will fail to materialise next year.

The oil producers’ cartel controls around a third of the global oil market and, as the only source of spare capacity, exerts a big influence over prices. (Read more… http://www.ft.com/intl/cms/s/0/be2d119e-5cd2-11e3-81bd-00144feabdc0.html#axzz2mXnx0x3N)

(English, Article, 2013)

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