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Saudi-Iran tensions threaten oil deal

Saudi Arabia wants all Opec members to take part in output freeze but Iran seeks to regain market share after the lifting of Western sanctions

Saudi's Deputy Crown Prince said the kingdom would restrain output only if Iran agreed to a freeze.


SAUDI Arabia demanded on Sunday that Iran join a global deal on freezing oil output, jeopardising an agreement between Opec (Organization of the Petroleum Exporting Countries) and non-Opec producers that was supposed to help ease a glut and prop up the price of crude.

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