The Changing Face of OPEC: Less Iran, More Iraq


Last week in Vienna, members of the Organization of Petroleum Exporting Countries (OPEC) agreed to maintain current oil production levels. This news reassured global markets, but was a painful blow to Iran, which had lobbied hard for a decrease in production in order to raise prices. It is the latest sign that Iran is losing influence within OPEC — a trend that will likely benefit Iraq in the long run, as LIGNET explains.

 


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