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OPEC crisis

Posted on 18 December 2013

Shortly after the four-page, six-month long nuclear deal was reached between p5+1 (United States, Russia, France, China, Britain and Germany) and the Islamic Republic of Iran (and after some signs pointing towards the easing of sanctions on Tehran), Iranian authorities have become more assertive and authoritative in increasing their influence in regional and international arenas, not only geopolitically but also economically.
This week, ahead of the upcoming OPEC meeting, Iran threatened to trigger a price war in the global oil markets. Iranian authorities warned OPEC’s 12 members (including Iraq, Kuwait, Iran, Saudi Arabia and Venezuela) that Tehran would raise its oil output even if prices of crude oil tumble to $20 a barrel on the global market………………………………………..Full Article: Source


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VRS - who has written 38144 posts on Opalesque Commodities Briefing.


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