The OPEC logo is seen at OPEC's headquarters during a meeting of OPEC oil ministers in Vienna, Austria, June 5, 2015. REUTERS/HEINZ-PETER BADER
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Saudi Arabia and its Gulf allies are at odds with Iran and other OPEC members over whether the group should include oil-price forecasts in its long-term strategy report, according to three of the group's delegates.The disagreement reflects internal divisions over whether OPEC policy should focus on prices or the stability of the oil market, one of the delegates said.Oil prices plunged to a six-year low last month as OPEC kept its taps open in an effort to pressure competitors such as U.S. shale drillers to cut production. While most OPEC members would like to see crude prices at $70 to $80 a barrel, oil's slump below $40 a barrel last month in New York hasn't tempered Iran's plan to restore output within months of sanctions being lifted, Zanganeh said.
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