Iran to ramp up crude exports to fend off rivals

London

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 US 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.

"Iran's return is effectively the Saudi policy on steroids," said Mike Wittner, head of oil…