Iranian officials used the meeting of oil producing nations in Vienna yesterday to set aside their differences with Saudi Arabia over crude policy, agreeing to a common production ceiling of 30m barrels per day for the first half of next year.
Opec watchers said the Iranians appeared in no mood to challenge the Saudis after months of rising tensions that have sunk relations between the two Gulf rivals to a new low.
The consensus in Vienna comes just six months after Iran had joined Algeria and Venezuela to argue against a Saudi-favoured move for a production increase.
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