Saudi ready to lower output if Iran agrees to output freeze at current levels - RTRS

Latest headlines out on the wires, via Reuters, cite that this week’s meeting between Saudi Arabia and Iran to discuss possible output cut is said to have ended in Vienna.

According to Reuters' sources, Saudi Arabia made a proposal to Iran ahead of Algiers meeting that it was ready to cut output if the latter agrees to freeze production at current levels of 3.6 mln bpd.

Meanwhile, both crude benchmarks attempt a minor-recovery and trade modestly flat, with traders absorbing the latest headlines on oil output deal.