You are here

Iran to ramp up crude exports to fend off rivals

Its move matches Saudi strategy that it earlier opposed

Opec's rivals may face renewed pressure next year as Iran revives shipments constricted by three years of sanctions over its nuclear programme.  Iranian Oil Minister Bijan Namdar Zanganeh has called on other member states to pare output to accommodate its return.


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...