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Saudi Arabia said to agree Iran freeze in output: Energy Minister

Published 11/30/2016, 07:51 AM
Updated 11/30/2016, 07:51 AM

Investing.com - Saudi Arabia's Energy Minister, Khalid al-Falih may agree to Iran output freeze at pre-sanction levels.
The compromise is seen helping to pave the way for a possible OPEC deal today to stabilize prices.
Oil prices jumped on renewed hopes for a deal, with Brent crude up 6.57% at $50.43 at 06:00 ET.
Saudi Arabia has been at loggerheads with Iran and Iraq on how to share the burden of planned output cuts.
OPEC reached a tentative accord in Algeria to cut output by up to 1 mn barrels to 32.5-33 million b/d.
OPEC would also like non-OPEC producers such as Russia to come on board on any deal.
OPEC is due to hold a news conference at its headquarters in Vienna at 10:00 ET.

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