That dampens hopes for a deal
Comments from Iran oil minister Zanganeh:
- Iran would agree to output of close to 4mbpd to secure a deal
- Iran says it wants a freeze exemption "for some months" to reach the pre-sanctions output of close to 4mbpd
- Agreement between OPEC and certain non-OPEC members will prepare the ground to overcome problems
- Unfortunately, since Nov 2014 we have suffered great losses as a result of wrong policies of certain members
The last line is a direct shot at Saudi Arabia.
No reaction from WTI, which is up 51-cents to $45.18.
Separately, Algerian oil minister Boutarfa repeated that they must act on the offer to stabilize the market.