Ministers from Saudi Arabia and Iran, the leaders of rival factions within OPEC, agreed Wednesday to maintain the current limit on output of 30 million barrels a day, according to OPEC delegates.
As a meeting of the Organization of Petroleum Exporting Countries, scheduled for Thursday, approached this week, several oil ministers in the group had complained that there is too much oil in the market now that Saudi Arabia and other Gulf countries have boosted output to make up for the effects of sanctions on Iran………………………………………..Full Article: Source