Iran plans to boost crude exports immediately after curbs are lifted. REUTERS/Raheb Homavandi
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Iran's diplomatic rift with regional rival Saudi Arabia will stiffen the challenge it faces in attracting foreign investments once sanctions on its economy are lifted, said analysts from IHS Inc., Energy Aspects Ltd. and Emirates NBD PJSC.Saudi Arabia severed relations with Iran, and the kingdom's Arab allies are taking similar steps.Saudi Arabia, OPEC's biggest producer, has resisted Iran's requests for some in the group to reduce output to make room for the expected increase in Iranian shipments.Iran's dispute with Saudi Arabia will have only a short-term impact on oil markets and won't deter it from raising exports, the Iranian oil ministry's news service Shana reported Wednesday, citing comments by Mehdi Asali, the country's OPEC representative.
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