OIL & OPEC

The price of oil is concentrating minds again, and we’re coming up to another crunch Organisation of Petroleum Exporting Countries (Opec) meeting.

The uncertainty in political and strategic alliances around the globe is playing into the latest round of jitters on the oil front.

Saudi Arabia and Russia want to open the spigots, so to speak, but Iran, Iraq and Venezuela are against such a move.

Will there be an extra 1.5 million barrels produced per day, thus easing supply and lowering the price.

Or will the tight rein, that has lifted the price of oil from $28 to $70 at the start of this year, prevail?