Iran’s oil minister is warning that OPEC is “likely to collapse” because some members of the 14-nation group are working against their fellow producers.
The comment appears to be a thinly veiled reference to Saudi Arabia and the United Arab Emirates. The Trump administration tightened energy sanctions against Iran on Thursday, and the White House says the Saudis and Emiratis will work with the U.S. to offset the anticipated drop in Iranian oil supplies.
