Oil sinks as OPEC mulls Iran supply cut exemption, tries to get Russia on board (reuters)

Oil prices fell on Friday as OPEC discussed a potential exemption from cutting output for Iran and as the producer club sought to get heavyweight supplier Russia on board.

There was also still discussion around Iran seeking an exemption from any cuts amid U.S. sanctions which already reduced its exports, OPEC delegates told Reuters.

OPEC also wants to get Russia on board with cuts. Russia wants to cut its oil output by a maximum of 150,000 barrels per day (bpd) for the first three months of 2019, RIA news agency cited a source as saying on Friday.
more at source: https://www.investing.com/news/commodities-news/oil-firms-on-drop-in-us-crude-stocks-market-awaits-opecrussia-supply-decision-1714203

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