LONDON (Reuters) - OPEC member Iran could be offered special terms under a global deal to freeze oil production levels, two sources familiar with the matter said on Tuesday.
“Iran has its own model and the meeting is taking place in Iran. Iran is returning to the market and needs to be given a special chance but it also needs to make some calculations,” said one of the sources, who were not from Iran.
Top oil exporters Russia and Saudi Arabia agreed on Tuesday to freeze output levels but said the deal was contingent on other producers joining in - a major sticking point with Iran absent from the talks and determined to raise production.
Venezuela’s Oil Minister Eulogio Del Pino said more talks would take place with Iran and Iraq on Wednesday in Tehran.
Reporting by Rania El Gamal and Ahmad Ghaddar; Editing by Greg Mahlich