Iran downplays prospects of oil output deal in Algiers
Iranian Oil Minister Bijan Zanganeh said expectations should be modest/ Iran downplayed on Monday the chances of Opec and non-Opec oil producers clinching an output-restraint deal in Algeria this week even though several other members of the group said they still hoped for steps to tackle a glut of crude. Oil prices have more than halved from 2014 levels due to oversupply, prompting Opec producers and rival Russia to seek a market rebalancing that would boost revenues from oil exports and help their crippled budgets. The predominant idea ...
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