Saturday, June 16, 2012

The Iran - Iraq Alliance

Iraq And Iran Form Alliance Within OPEC -- Financial Times

Iran and Iraq are forming a strengthening alliance inside Opec, raising concerns among moderate Arab Gulf producers like Saudi Arabia and increasing the potential for discord in the oil producers’ group.

With the EU sovereign debt crisis worsening and growing fears for the global economy, the deep divisions within Opec risk undermining the organisation’s ability to do its job of effectively managing oil supply and preventing violent price swings.

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My Comment: I can only expect this 'alliance' to grow with time.

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