Crude oil supply from Iran, Iraq a threat to Opec's plan

Business Wednesday 23/November/2016 18:56 PM
By: Times News Service

Saudi Arabia’s dominance of Organisation of Petroleum Exporting Countries (Opec) isn’t what it once was.
Iraq and Iran, shaking off shackles of sanctions and war, have raised oil output to record highs and are asserting themselves within the Opec. Together they produce more than 8 million barrels of oil a day, nearly a quarter of the oil pumped by the group, and both want to boost their output further.