Iran urges Opec to halt oil price slide

Financial Times - Sep 26, 2014

Iran’s stands at about $130 a barrel while Saudi Arabia is at $89 and the UAE at $74, according to data compiled by Citigroup. “As there is a pronounced rivalry between Saudi Arabia and Iran for regional hegemony, Saudi Arabia might see some geopolitical advantages in the current situation as its rival cannot stomach lower oil prices that easily” said Eckart Woertz, a Gulf economies expert and senior research fellow at the Barcelona Centre for International Affairs.

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