Oil Freeze Thaws as Saudi Arabia Says Accord Hinges on Iran
- `Kiss goodbye' to any hopes of agreement in Doha: Commerzbank
- Russia says it wasn't aware of Saudi position on Iran
QuickTake: Saudi Arabia’s Strains
This article is for subscribers only.
After putting a floor under oil prices this winter, the proposed crude-production freeze appears to be headed for a spring thaw.
Burgeoning oil-producer unity, which was leading toward an accord in Doha to cap output, came under immense strain as Saudi Arabia’s deputy crown prince said the kingdom’s commitment depends on regional rival Iran, which has already ruled out its participation. If any producer increases output -- and Iran has made clear its intention to do so -- Saudi Arabia will likewise boost sales, Mohammed bin Salman said in an interview with Bloomberg.