OPEC Deal Disintegrates After Iran Press Accuses Saudi Arabia Of "Reneging" On Agreement

Despite all measures taken by Saudis, Iran has reached a record high in oil sales by deploying 2.442 million barrels of oil per day to global markets, marking anunprecedented figure in the past two decades. Moreover, Iran has recently managed to find a place in emerging markets like Poland, Hungary as well as some states in the Eastern Bloc of Europe. 

Also in Asia, Iran has takenover the place of Saudi Arabia turning into the largest supplier of crude oil to India and statistics reveal that in October, Iran shipped 789 thousand barrels of crude to the Asian state remaining ahead of Saudis who exported 697 thousand barrels in the same time preiod. 

The question remains whether Saudi Arabia will manage to attain its political objectives in the oil market by waging a new oil war on the verge of the OPEC meeting in Austria in order to postpone the plan to freeze OPEC's oil output.

We will know the answer in three days.

Original report here

1 2 3 4
View single page >> |

Disclosure: None

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.


Leave a comment to automatically be entered into our contest to win a free Echo Show.