Saudi Arabia and OPEC members slashed output at the beginning of this year to prop up the price of crude oil. Now tensions between them and Iran have led to the evacuation this weekend of Exxon Mobile employees from the Qurna 1 oilfield in Iraq, just 20 miles from the Iranian border. All non-essential US embassy staff have been ordered out of Iraq and yesterday a rocket landed near it in Baghdad.
To continue reading, register today
to enjoy limited access to the following:
- Daily trading news
- Funds coverage
- Features on big investment themes
- Comprehensive companies coverage
- Economic analysis