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

As Iran flexes its economic muscle in Opec and internationally, a key question is what this enhanced power will mean for its political posture in the region and beyond.

A view from sea of an oil dock at Kalantari port in the Iranian city of Chabahar, on the Gulf of Oman. The IMF indicated in October that Iran's economy could grow 4-5.5% in 2016-17, in the context of international sanctions relief, if oil production is raised by up to one million bpd.

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