Dubai – Mubasher: OPEC member countries failed to agree an oil production ceiling on Friday at a meeting, after Iran said it would not consider any production curbs until it restores output scaled back for years under Western sanctions.
A final OPEC statement was issued with no mention of a new production ceiling.
OPEC's Secretary General Abdullah Al-Badri said OPEC could not agree on any figures because it could not predict how much oil Iran would add to the market next year, as sanctions are withdrawn under a deal reached six months ago with world powers over its nuclear program.
