Oil goes up after Iran, Iraq signal hopes for agreement
According to Iran’s Shana news service, members will probably reach a consensus about the oil output deal before the meeting on November 30 with the members’ renewed diplomatic efforts, Iranian Oil Minister Bijan Namdar Zanganeh said.
The group has been trying to cut oil output for the first time in eight years. However, the members are facing difficulties in reaching an agreement as Iran wants to boost its production following the sanctions and Iraq wants to be exempt from the new regulation to be able to fund the ongoing wars in the country.
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