Saudi Energy Minister Prince Abdulaziz bin Salman now has an OPEC challenge to deal with on top of the largest-ever disruption to global oil supplies.
The Iran war has not only hobbled crude exports in the Persian Gulf but has meant Saudi Arabia and other members of the group of oil-producing countries are unable to tap the spare capacity usually deployed in times of crisis.
This week¡¯s sudden departure of OPEC¡¯s fourth-largest producer last year, the United Arab Emirates, taking with it spare capacity second only to the kingdom¡¯s, poses a formidable test for ?the first royal Saudi oil minister whose style has shifted from painstaking diplomacy to increasingly unilateral decision-making, said two delegates from the broader OPEC+ group, an alliance with Russia and ?a number ?of other producers.
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