Oil output to rise by 1m barrels a day as Opec reaches compromise
(The Guardian Iran)

Delegates at Vienna meeting say talks were fraught - Brent crude rises 2% Major oil producers have agreed to pump more crude to help reduce prices and prevent a supply shortage, in a significant reversal of Opec´s strategy of curbing output over the past 18 months.After a fraught meeting in Vienna in which Iran was initially at odds with a Saudi-led drive to boost production, ministers settled on a target they said would increase output by around 1m barrels per day (bpd). Related: Opec meeting: oil ministers are `cooking up a deal` on production - business live Continue reading...