| Saudi Arabia’s economic battle over the oil market with Iran, Russia and others is intensifying even as it attempts to reduce its dependence on oil, Benoit Faucon, Selina Williams and Summer Said report.
Officials with the Organization of the Petroleum Exporting Countries, or OPEC, say the contest won’t settle down until geopolitical rifts in the Middle East cool. Saudi Arabia’s rivalry with Iran has contributed to violent conflicts in Syria and Yemen and made it nearly impossible for OPEC to agree on tactics to raise crude prices. Russia has managed to keep its European market share steady in 2014 and 2015, while Saudi Arabia has slipped...............................................Full Article: Source
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