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Commodities Briefing - Categorized | Oil, Trends more

Iraq, Saudi on OPEC collision course over next oil curb

Posted on 13 December 2012

A new rivalry at the top of OPEC has emerged, pitting up-and-coming Iraq against undisputed oil cartel heavyweight Saudi Arabia. Having overtaken Iran as OPEC’s second biggest producer, a rejuvenated Iraq is beginning to worry Riyadh.
At Wednesday’s meeting of the Organization of the Petroleum Exporting Countries the opening salvos were fired in the struggle over who takes responsibility for cutting output if oil prices, comfortable for now at $109 (67.5 pounds) a barrel, start falling………………………………………..Full Article: Source


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