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Tuesday, 29 November 2016

Iran outlines proposal for Saudi output cuts ahead of Opec meeting

Iran outlines proposal for Saudi output cuts ahead of Opec meeting:
"An Opec meeting wouldn’t be an Opec meeting without some noisy negotiations – and Iran has just turned the volume up to 11.

It has demanded Saudi Arabia cut production to its November 2014 level of around 9.5m barrels a day – that’s around 1m barrels per day less than Riyadh is currently producing, report Anjli Raval and David Sheppard in Vienna.

The request was made in a letter sent to Opec’s secretariat and marks the latest tit-for-tat exchange between the two regional rivals ahead of Wednesday’s ministerial meeting in Vienna."

'via Blog this'