President Donald Trump’s withdrawal from the Iran nuclear deal is likely to exacerbate tensions between two of the world’s biggest oil producers at next month’s OPEC meeting, one analyst told CNBC Wednesday.
Global oil supplies were already tightening ahead of the U.S. president’s decision to pull out of the landmark nuclear accord on Tuesday, while crude futures have since soared to multi-year highs.
Yet, in a move that defied pleas from close allies, Trump said he would seek to re-impose economic sanctions on Tehran, elevating concerns about the future of the supply-cutting deal between OPEC members and allies including Russia. […]
