Report: OPEC envoy says Iran won't freeze oil production

February 17, 2016 11:09 AM

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Iran's Organization of the Petroleum Exporting Countries envoy on Wednesday said his country will not freeze its oil production levels, snubbing a proposal that was agreed by four other countries a day earlier, according to a media report.

Russia, Saudi Arabia, Qatar and Venezuela agreed to cap crude production at January levels if other major producers follow suit following a meeting in Doha, Qatar on Tuesday.

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