You are here

Saudi Arabia didn't make output cut proposal: report

There is widespread scepticism that an output reduction deal will happen, especially since Iran is keen to boost its market share now that sanctions on it have been lifted.


SAUDI Arabia was not the source of a proposal to cut oil production that Russia was studying, al-Arabiya television reported on Sunday, quoting an unnamed Saudi source.

But the kingdom, the world's biggest oil exporter, wanted to cooperate with other producers to support the...