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Saudi-Russian axis rules oil markets as Trump fights Iran

Updated : June 28, 2018 08:34 PM IST

Iran had been pushing hard for oil producers to hold output steady as US sanctions are expected to hit its exports, meaning Tehran had little to gain from OPEC production increases that lower oil prices and cut its revenue.
The events in Vienna were the latest example of how Russia and Saudi Arabia have effectively sidelined OPEC, driving policy for their own geopolitical ends and, in the case of Saudi Arabia, often at the behest of the United States.
Saudi-Russian axis rules oil markets as Trump fights Iran
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