VIENNA Saudi Arabia promised on Thursday not to flood the oil market with extra barrels even as OPEC failed to agree on output policy, with Iran insisting on the right to raise production steeply.
Tensions between the Sunni-led kingdom and the Shi'ite Islamic Republic have been the highlights of several previous OPEC meetings, including in December 2015 when the group failed to agree on a formal output target for the first time in years.
12:23 Sterling volatile as market speculates on ‘hard Brexit’; investors await May's speech12
19:08 U.S. indicts three Takata executives, fines company $1 billion in faulty air bag scandal15
18:52 Astros avoid arbitration with Dallas Keuchel, George Springer18
17:27 U.S. crude output for 2018 to rise by 300,000 bpd: EIA16