Iran Now Has the Edge in the Fight Over Oil Prices With Saudi Arabia
Riyadh is pushing for first oil production limits in 8 years/ Iran is resisting Saudi-backed plan to freeze its own output/ Suddenly the tables have been turned on Saudi Arabia. The biggest oil exporter has swapped its traditional role as price dove with regional foe Iran, for years OPEC price hawk. The government in Riyadh is now offering a deal -- including its first output cut in eight years -- to boost prices; Tehran is dragging its feet. At the center of the reversal is their contrasting thresholds for enduring economic pain. "Both ...
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