Reuters | Iran rejects Saudi offer to cap oil output ahead of Opec meeting Financial Times Iran has dealt a severe blow to Saudi-led efforts to curb oil production and reverse the two-year-old downturn in crude prices by rejecting an offer from Riyadh to cap output, sending Brent down more than 3.5 per cent. OPEC set for no deal as Iran rejects Saudi oil output offer Oil Production In US To Soar Again, Says Goldman Sachs US oil settles at $44.67 a barrel, down $1.26, or 2.74% |