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OPEC’s Saudi Arabia, Iran to Work Together

Bloomberg  reports that “Almost by accident, OPEC adversaries Saudi Arabia and Iran are about to work as a team.”  

“When the Saudi kingdom decided last year that OPEC should keep pumping to counter a surge in U.S. shale oil, Iran spearheaded resistance to the idea, saying output cuts were needed to buoy prices. Still a critic, Iran is nonetheless poised to amplify the strategy as it ramps up crude exports with the end of sanctions.”

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