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