Iran could discuss oil output freeze once its production has recovered - source | Reuters

LONDON OPEC member Iran is willing to discuss a freeze in oil production levels once its own output has reached the pre-sanctions rate, a source familiar with Iranian thinking said on Tuesday, underlining Tehran's reluctance to curb supplies.

Top global oil exporters including Russia and Saudi Arabia agreed earlier on Tuesday to freeze output levels to tackle a global glut but said the deal was contingent on other producers joining the pact.

"We have not yet reached our level of pre-sanctions production. So when we get there we will be on an equal level, then we can talk," the source said.

"Our situation is totally different to those countries that have been producing at high levels for the past few years."

(Reporting by OPEC team; Editing by Greg Mahlich)

This story has not been edited by Firstpost staff and is generated by auto-feed.


Updated Date: Feb 17, 2016 00:30 AM

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