Gathering Storm For OPEC As Iran Lays Down The Gauntlet


Iranian Oil Minister Bijan Namdar Zanganeh caused a stir in Vienna at the start of OPEC’s 164th meeting, declaring intent to reclaim Iran’s share of the oil market even if it means a collapse in oil prices. Mr Zanganeh’s opening gambit set the stage for turbulent times ahead for the organization, should Iran emerge from sanctions and Iraq succeeds in attaining higher output targets.

OPEC ended a...