Saudi Arabia promised not to flood the oil market with extra barrels as Opec headed into a heated debate about production policy, with Iran insisting on the right to raise output steeply.
Tensions between the sunni-led kingdom and the shi'ite Islamic Republic have been the highlights of several previous Organisation of the Petroleum Exporting Countries (Opec) meetings, including in December 2015 when the group failed to agree on a formal output target for the first time in years.
Several Opec sources said Saudi Arabia and its Gulf allies would propose to set a new collective ceiling in an attempt to repair Opec’s waning importance and end a market-share battle that has sapped prices and cut investment.
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Tensions between the sunni-led kingdom and the shi'ite Islamic Republic have been the highlights of several previous Organisation of the Petroleum Exporting Countries (Opec) meetings, including in December 2015 when the group failed to agree on a formal output target for the first time in years.
Several Opec sources said Saudi Arabia and its Gulf allies would propose to set a new collective ceiling in an attempt to repair Opec’s waning importance and end a market-share battle that has sapped prices and cut investment.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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