Saudi Arabia, Russia seek 1.5 million bpd OPEC, non-OPEC output increase: Ecuador | Reuters:
"Russia and Saudi Arabia have put forward a proposal to increase production by OPEC and non-OPEC countries by 1.5 million barrels per day, Ecuador’s oil minister said on Monday.
Perez said on his arrival in Vienna for the meeting of the Organization of the Petroleum Exporting Countries that this was the only proposal he has seen being put forward, and that the proposed increase would be from the quota that the members of the deal had agreed on.
OPEC’s second and third largest producers Iraq and Iran have said they would oppose steep output increases as it would breach previous agreements to keep production cuts in place until the end of the year. "
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