It looks like it is going to be a showdown at the OPEC coral as Iran leads the coalition of the not so willing to raise oil production along with Iraq and Venezuela. The coalition of the willing lead by Saudi Arabia and the so-called Plus 1, Non-OPEC Russia seems as committed as ever to raising oil output. Russian Energy Minister Alexander Novak Is pushing for a 1.5-million-barrel increase in output, which is partly a negotiating tactic and partly a concern that the market might become undersupplied in the third quarter.
From:: Resource Investor