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Iran's Zanganeh says it was a 'difficult' OPEC meeting

Houston — OPEC ministers need to debate longer into a second day to agree a firm output deal, Iran's oil minister Bijan Zanganeh said Thursday.

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The head of OPEC's fourth-largest producer said "we will consult more" after several hours of meetings in Vienna ended inconclusively.

Iran is seeking an exemption from the cuts being negotiated to help rebalance the market. Oil prices fell below $60/b as ministers exited the meeting without an agreement in place. -- Staff, newsdesk@spglobal.com

-- Edited by Jonathan Fox, newsdesk@spglobal.com