Oil Prices Plunge As Saudi-Iran Split On Output Freeze Resurfaces
Oil prices plunged anew as signs of discord reemerged between Iran and Saudi Arabia over an oil production freeze being pushed by the Saudis and Russia. At a meeting of the OPEC oil cartel in Algeria on September 27, Iran rejected an offer by the Saudis to cut their oil production if Tehran agreed to freeze its output at its current level of 3.6 million barrels a day, OPEC officials said. Iran continued to insist that it be free to increase production to levels attained before international sanctions were imposed in 2012 -- around 4 million ...
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