Saudi to Join Oil Output Freeze Only if Iran Joins

Reuters

LONDON, April 1 (Reuters) - Saudi Arabia will agree to freeze crude oil production levels only if Iran and other major producers do so, the kingdom's deputy crown prince said in an interview with Bloomberg.

Iran has said it will not join fellow OPEC and non-OPEC members in a plan to be discussed in a Doha conference on April 17 to freeze oil production in an attempt to boost prices.

Iran seeks to revive its oil industry following the lifting of international sanctions.

"If all countries including Iran, Russia, Venezuela, OPEC countries and all main producers decide to freeze production, we will be among them," Mohammed bin Salman said.

(Reporting by Ron Bousso; editing by Jason Neely)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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Roberto Cervantes Muller | Apr. 1, 2016
I think is extremely wise if the major producers decrease production and let the oil barrel to go back to USD 50 and let exploration contracting companies to come back in business by doing seismic acquisition and re-start hiring so many people that has been laid off due to the issue.

david | Apr. 1, 2016
Iran said and Russia agrees with Iran that they will freeze after gaining their full share as they had before the sanctions.


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