Iran wants much steeper Saudi oil cut - OPEC source

Last Updated: Tue, Nov 29, 2016 21:02 hrs
Gas flame is seen in the desert near the Khurais oilfield

VIENNA (Reuters) - Iran has written to the Organization of the Petroleum Exporting Countries saying Saudi Arabia needs to cut oil output to 9.5 million barrels per day, an OPEC source told Reuters.

Saudi Arabia has previously indicated it was prepared to reduce its production only by 0.5 million bpd from current levels of 10.5 million bpd.

(Reporting by Rania El Gamal; Editing by Dale Hudson)

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