What will happen to oil markets when the oil boycott against Iran goes into full effect July 1st?
With the global economy at a tipping point, a deeply divided Organization of the Petroleum Exporting Countries is meeting in Vienna to decide whether to cut production and prop up crude oil prices.
Saudi Arabia, the world's biggest oil exporter, has come under pressure from fellow OPEC producers to cut oil output to prevent a further slide in crude prices.
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Price hawks in OPEC are concerned slowing economic growth will send crude, already off $30 since March, plummeting further.
"You don't want to be defending an oil price when it's falling," said Sean Evers, founder of Gulf Intelligence.
"You want to put defences in before the fall happens. I think in this instance, it's possibly too late for OPEC to defend 100 dollars a barrel."
