Russia, Iran, Iraq Quash Reported Bid To Cut Oil Output

Russia, Iran, and Iraq have quashed a plan reportedly being eyed by Saudi Arabia to lift sagging global oil prices through collective cuts in oil output. The Energy Intelligence newsletter reported that Saudi Arabia, the largest oil producer in the Organization of the Petroleum Exporting Countries (OPEC), was ready to propose a cut of 1 million barrels a day in output at a meeting of the oil cartel on December 4, if non-OPEC countries like Russia joined in. But Russia,...