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| Kuwait oil minister leaves OPEC meeting amid deadlock in oil production cut talks - reports | Kuwait oil minister leaves OPEC meeting amid deadlock in oil production cut talks - reports |
| (35 minutes later) | |
| The Organization of the Petroleum Exporting Countries (OPEC) has, so far, failed to agree on oil output cuts aimed at boosting crude prices. The Saudi energy minister earlier warned that the meeting may end with no deal. | |
| OPEC’s main oil producer, Saudi Arabia, has been trying to strike a deal on production cuts at the two-day talks in Vienna. However, some countries, including Iran, have refused to agree to the proposed plan “either symbolically or literally.” | |
| Iran has reportedly been asking for an exemption from the output cuts but regional rival Saudi Arabia refused to make concessions, Reuters reported citing sources. | |
| As the talks stalled, Iran agreed to cut oil output by around 0.8 million barrels per day from 2019, according to the agency. | |
| DETAILS TO FOLLOW | DETAILS TO FOLLOW |