Iran's re-emergence and a new regional power equation

LAST week's meeting of the Organization of the Petroleum Exporting Countries (Opec) failed to agree on a new oil production ceiling - the first time since 2011 that such a deal has not been reached. At the heart of the disagreement is Iran, who refused to consider production curbs until it restores output that has been diminished after years of Western sanctions.

Iranian Oil Minister Bija…