Iran Resists Saudi Gesture for Unity as OPEC Fractures Reappear
- Saudi minister wants to show that OPEC isn’t dead, people say
- No indication OPEC is seeking to change current production
Can OPEC Agree on a Production Target?
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Iran resisted overtures from OPEC’s largest producer Saudi Arabia to restore a production target scrapped at the group’s last meeting in December.
“I don’t agree with an overall output ceiling for OPEC,” Iranian Oil Minister Bijan Namdar Zanganeh said Thursday, before a meeting of the group in Vienna. Zanganeh wants the organization to return to a country-quota system, which he said might be difficult to achieve at today’s gathering.