Iran Oil Deal to Fan OPEC Discord as Saudis Defend Market Share

Saudi Arabia has impressed analysts and traders alike with its determination to keep oil flowing amid the selloff. Now the potential re-emergence of Iran as a global supplier, they say, will only deepen the country’s commitment to that tack.

Saudi Arabia, the world’s biggest oil exporter, wants to keep output up to pressure high-cost producers such as U.S. shale drillers and will grow more determined when faced by increased supply from political rival Iran, according to Citigroup Inc. and Societe Generale SA. Discord among OPEC members, at odds over the kingdom’s strategy, will flare again as Iranian output rebounds and may surface at the group’s next meeting in June, Commerzbank AG says.