The collapse in relations between Saudi Arabia and Iran after the Saudi execution of a Shi’ite cleric puts an end to speculation that OPEC could somehow agree production curbs to lift the price of oil anytime soon. A Reuters survey of OPEC production showed on Tuesday that Saudi Arabia ended 2015 with its output at full tilt, with no sign of cutting supply to make room for Iran, which plans to ramp up its own output when international financial sanctions are lifted this year. According to the survey, compiled from shipping data, oil company figures and industry experts, Saudi production for December averaged 10.15 million barrels per day. That means it was above 10 million barrels per day for nine straight months, the longest period of sustained […]