FT – Iran threatens to trigger oil price war

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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