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Iran likely to back longer OPEC-led oil cut if all on board - sources

Reuters  |  LONDON/DUBAI 

By Alex Lawler and Rania El GamalLONDON/DUBAI (Reuters) - A proposal to extend an OPEC and non-OPEC supply cut for nine months is a postive idea, sources familiar with Iranian thinking said, suggesting OPEC's third-largest producer is likely to go along with such a plan if there is a consensus.Saudi Arabia and Russia, the world's top two oil producers, agreed on Monday on the need to extend output cuts for nine months until March 2018 to erode a glut. That would be longer than the optional six-month extension first agreed.Kuwait, a Gulf producer usually aligned with the Saudi OPEC view, said ...

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First Published: Tue, May 16 2017. 18:07 IST