This monumental achievement in perception engineering was made 'possible because Iran will be exempt from capping production.'(Bloomberg)
As oil prices have fallen over the past few years, OPEC producing nations have responded paradoxically by scrambling to make up the loss in revenues with an increase in production. This has led to all-time-highs in oil production globally.
Not so fast! There is an old Arab Proverb that goes, 'Trust in God but Tie Your Camel.'
There is serious money on the line. It's a game of prisoner dilemma. Work together and you both benefit but cut their throat and gain market share.
Time will tell. The future will unfold as it does.
Until then, never forget the wisdom of the ancients...