Viennese Waltz Becomes A Two-Step

Come November, the oil market will be keeping an eye on two sets of negotiations that are due to take place in Vienna. Each one will determine whether prices go up or down.

IRAN DEADLINE

First on the global agenda is the 24 November deadline set by Iran and world powers for possible agreement on a potential nuclear deal that might pave the way for an easing of economic sanctions against Tehran.

Three days later, Iran and other fellow OPEC states will meet in the Austrian capital to try to thrash out agreement on supply in a turbulent market, where oil prices have fallen to a near four-year low, threatening the fiscal positions of oil producers but also the potential for further investment in an increasingly high risk environment for the multinational oil companies. (CONTINUED - 1793 WORDS)