OIL: Round 1 to the Saudis

OIL Round 1 to the Saudis

In the bitter scrap that pits Saudi Arabia and the United Arab Emirates against the eleven other members of the Organization of Petroleum Exporting Countries, it is far too early to predict the ultimate winners. But so far, the minority of two seems to be ahead. The Saudis appear to be attracting enough new customers to force their rivals into production cutbacks and price fiddling.

The schism started a month ago at an OPEC price-setting conference in Qatar, when Saudi Oil Minister Ahmed Zaki Yamani and his allies in the Emirates refused to go...

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