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FINANCIAL NEWS
Saudi Arabia offers Iran to reduce oil production
24 Sep 2016
(MENAFN) According to official sources, Saudi Arabia has offered to reduce oil production if rival Iran agrees to cap its own output this year.
Accordingly, the offer, which has yet to be accepted or rejected by Tehran, was made this month.
The sources told Reuters: “They (the Saudis) are ready for a cut but Iran has to agree to freeze.”
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