Forbes | Saudi-Iranian Rift Will Roil Oil Markets, But Greatest Impact Will Be Long Term Forbes On Sunday, Saudi Arabia, the world's largest oil producer and OPEC's de facto leader, severed diplomatic ties with fellow OPEC member Iran in a geopolitical rift that has ramifications not only for Middle Eastern regional security but for global oil ... Saudi-Iranian rivalry will leave oil unscathed US oil settles down 79 cents, or 2.15%, at $35.97 a barrel Saudi, Iran conflict would send oil prices skyrocketing, but... |