Reuters | Oil down 3 percent as Saudi, Iran dash hopes for an Algiers deal Reuters NEW YORK Oil fell about 3 percent on Tuesday after Saudi Arabia and Iran dashed market hopes that the two major OPEC producers would find a compromise this week at meeting in Algiers to help ease a global glut of crude. Saudi Energy Minister Khalid ... Iran rejects Saudi offer to cap oil output ahead of Opec meeting US oil settles at $44.67 a barrel, down $1.26, or 2.74% Two Years Into Oil Slump, US Shale Firms Are Ready to Pump More |