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OPEC Unity Bids Solid Oil Market Ahead of Summer
In Vienna OPEC seals a rare show of solidarity with prices near their $14 benchmark. The deal narrows a planned fall increase, signaling a return to market-stabilizing production controls despite Iran Iraq tensions and UAE quota concerns. Saudi Iran ties improve while Saudi Arabia may cancel fall output rise. Iran sacrifices lower production for stable prices.
MENTIONED IN THIS ARTICLE
Vienna
Austria
OPEC
Organization of Petroleum Exporting Countries
Iran
Iraq
United States
Venezuela
Arturo Hernandez Grisanti
Saudi Arabia
Fahd
Ahmed
Zaki Yamani
Gholamreza Aghazadeh
Hisham Nazer