The diplomatic clash between Qatar and three Arab allies flared regional tensions and caused oil prices to jump. For Opec , it’s likely to remain business as usual. Saudi Arabia and three other Arab countries severed most diplomatic and economic ties to Qatar to punish the nation for its links with Iran and Islamist groups. "While Opec members have fought political disputes and even wars through the organization’s 57-year history, their shared economic interests have meant policies on oil production have still been implemented. OPEC agreed a new collective production ceiling in December of that year.>> 2015 -- Yemen’s civil war deepens the divide, with Saudi Arabia accusing Iran of backing rebel factions.

Source: Economic Times June 05, 2017 14:03 UTC