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...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!