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Opec unity under fresh strain amid Iran-Saudi crisis

In addition to political and religious issues, Middle Eastern powerhouses also clashing over market share

Published Wed, Jan 6, 2016 · 09:50 PM

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    Paris

    ESCALATING diplomatic tensions between Iran and Saudi Arabia have added fresh strains on Opec's unity as the cartel grapples with a common response to rock-bottom oil prices, experts said.

    While it produces a third of the world's oil, the group has struggled with crude values that have tumbled some 60 per cent since mid-2014, falling below US$40.

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