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OPEC Discusses Output Hike of Up to 600,000 Barrels a Day

  • Russia has proposed larger hike, while Iran backs status quo
  • Saudis working with Russia on making oil alliance permanent
Bloomberg business news
OPEC Is Said to Debate Output Hike of 300,000 to 600,000 B/D
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OPEC members are discussing a compromise agreement that would see an oil production increase of between 300,000 and 600,000 barrels a day over the next few months, according to people briefed on the talks.

While Iran said on Sunday it’s opposed to any increase to current quotas, officials from a number of other countries are optimistic that an agreement can be won for a relatively modest hike at this week’s meeting in Vienna, the people said, asking not to be named discussing private conversations.