An awkward encounter between Iran and the European Union offers a reminder of Saudi Arabia’s pivotal role in the oil market–and may offer some symbolic hope for peace.
Earlier Wednesday, Europe’s energy czar Gunther Oettinger was meeting Saudi Oil Minister Ali Naimi under the high ceilings of Vienna’s Hofburg palace. The topic? Sell Europe enough Saudi oil to make up for an upcoming oil ban on Tehran. That was until Iran Oil Minister Rostam Ghasemi burst into the heavily-guarded room uninvited....MORE