Willing to reduce the production of oil-Saudi Arabia

Saudi Arabia is prepared to reduce the production of oil, enough for Iran to “freeze” the levels of its own…
production at current levels, reported three sources with knowledge of the matter told Reuters.
The move is a compromise, that gives a new impetus to the talks of the member-states of OPEC in Algeria next week. According to the sources of the news agency, however, the proposal of Saudi Arabia has not been accepted or rejected by Tehran.
Saudi Arabia appears ready to maintain at lower levels the production of, in exchange for Iran to “freeze” the output of the current levels, i.e. 3.6 million. barrels per day.
“They (the Saudis) are ready for a reduction, but Iran would have to agree to the freeze,” said a source.
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