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    Home » OPEC members propose Iran oil output be capped at 3.92m b/d

    OPEC members propose Iran oil output be capped at 3.92m b/d

    November 18, 2016
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    *Iranian crude oil production.
    *Iranian crude oil production.

    18 November 2016, Vienna, Austria — OPEC member countries have proposed Iran cap its oil output at 3.92 million barrels per day (b/d) under a production-limiting deal for the whole group, a source familiar with the proposal told Reuters.

    The figure means OPEC members may be coming nearer to a consensus on how much Iran should produce. Iran has previously sent mixed signals, saying it would accept a freeze at between 4.0 and 4.2 million b/d.

    The source said Tehran had yet to respond to the proposal.

    *Rania El Gamal; Dmitry Zhdannikov; Editing – Dale Hudson

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