World News: 08:59 GMT Wednesday 12th June 2019. [Yahoo Business News Feed via SPi World News]
It’s the latest example of how bitter geopolitical rivalry between Saudi Arabia and Iran can cause gridlock in the cartel. The Organization of Petroleum Exporting Countries and its partners, an alliance that spans 24 oil-producing nations, must choose whether to extend production cuts into the second half of the year or end a pact that has put a floor under prices. Now, as countries that initially resisted Russia’s proposal give it their support, delegates familiar with the matter say opposition comes from just one nation: Iran.
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