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Iran Signals Compromise For Modest Rise In OPEC Oil Output

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News video: Iran Signals Compromise For Modest Rise In OPEC Oil Output

On Wednesday Reuters reported that Iran has signaled a compromise on a small increase in OPEC oil output when the group meets this week.

The decision came at a time when Saudi Arabia scrambled to convince fellow members on the need for a larger rise in production.

The organization will meet on Friday to decide on output policy amid calls from major consumers such as the United States and China to cool down oil prices and support the global economy by producing more crude..

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Iran Signals Compromise For Modest Rise In OPEC Oil Output

A TUESDAY, MAY 13, 2014 FILE PHOTO A SEPT. 30, 2015, FILE PHOTO.




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