November 29, 2016 / 3:12 PM / in a year

Iran wants much steeper Saudi oil cut: OPEC source

VIENNA (Reuters) - Iran has written to the Organization of the Petroleum Exporting Countries saying Saudi Arabia needs to cut oil output to 9.5 million barrels per day, an OPEC source told Reuters.

Iran's Oil Minister Bijan Zanganeh arrives at his hotel ahead of a meeting of OPEC oil ministers in Vienna, Austria, November 29, 2016. REUTERS/Heinz-Peter Bader

Saudi Arabia has previously indicated it was prepared to reduce its production only by 0.5 million bpd from current levels of 10.5 million bpd.

Reporting by Rania El Gamal; Editing by Dale Hudson

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