OPEC edges closer to raising oil output, Iran's agreement is key
OPEC edged closer on Thursday towards raising oil output, with Iran softening its opposition to an increase and warning of supply shortages and price rallies if production remained stable. A production rise of about 1 million barrels per day (bpd) or around 1 per cent of global supply was emerging as a consensus for the group and its allies, OPEC sources told Reuters, adding that Iran could agree under certain conditions. The Organization of the Petroleum Exporting Countries meets on Friday to decide output policy amid calls from top ...
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