| Tehran wants 13% of oil cartel’s production before any agreement to curb production. Iran has dealt a severe blow to Saudi-led efforts to curb oil production and reverse the two-year-old downturn in crude prices by rejecting an offer from Riyadh to cap output, sending Brent down more than 3.5 per cent.
Speaking before Wednesday’s closely watched oil producers’ meeting, Bijan Namdar Zanganeh, Tehran’s energy minister, said his country was not willing to freeze output until it had regained more than 4m barrels a day of production, heightening tension between two of the region’s most powerful petroleum producers..........................................Full Article: Source
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