Iran has warned Saudi Arabia and other members of the Opec cartel not to increase their oil production to make up any shortfall created by western sanctions against Tehran.
The warning comes after western policymakers travelled to Riyadh to ask Saudi Arabia, the world’s largest oil exporter, if it would boost production to offset the impact of US and European Union sanctions.
Mohammad Ali Khatibi, Iran’s Opec representative, said Tehran would consider any output increase as “unfriendly”, inflaming tensions in the Middle East that have pushed the cost of Brent, the global oil benchmark, above $110 a barrel.
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