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Main » 2016 » January » 4 » The split between Saudi Arabia and Iran undermine oil prices
The split between Saudi Arabia and Iran undermine oil prices

The diplomatic rift between Saudi Arabia and Iran could complicate the efforts being made to resolve the OPEC oil markets if Iran begins to export up to 1 million barrels a day after the removal of Western sanctions, as expected earlier this year.



Since last year, the volume of raw materials substantially greater than the demand - the price of oil fell in the last year to levels not seen since the financial crisis began.

During this time, the organization of Petroleum Exporting Countries abandoned its traditional role to stabilize prices by reducing production. But in December, the officials left open the question of a possible emergency meeting earlier this year, which will be negotiated influence of Iranian oil in the world market.

Now that the cooperation of the two most influential members of OPEC - Saudi Arabia and Iran on the verge of a split, to regulate production targets seem out of reach. 


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