February 10
08:20
2016
Crude oil prices pushed higher on Wednesday after Iran said it was open to cooperation with Saudi Arabia, partly recovering from an 8 percent fall in the previous session on concerns over demand and weak equities. Prices were supported by comments from Iran’s oil minister that Tehran is ready to negotiate with Saudi Arabia over the current conditions in global oil markets. Meanwhile, the International Energy Agency (IEA) said the Organization of Petroleum Exporting Countries (OPEC) is unlikely to cut a deal with other producers to reduce ballooning output.
