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Opec to increase output by 1 million barrels per day, if Iran budges

Opec is nearing the completion of a deal that would see the group output an additional 1 million barrels per day. The group has been under pressure from many countries, including the US, China, and India, to increase output, a move that would reduce consumer prices. The ongoing talks have seen strong splits between Iran and a Saudi-Russia effort to increase production, a change to the unity that has characterized the over recent years. 

Source: Oil output to rise by 1m barrels a day in Opec deal – Saudi minister | Business | The Guardian

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