OPEC moves to bridge Saudi-Iran rivalry

VIENNA — Nigeria’s oil minister is suggesting that OPEC will maintain present output levels as it seeks to lessen Saudi-Iranian rivalry.

Jose Botelho de Vasconcelos says that “consensus .... is the goal of our organization.” That suggests the ministers are moving toward maintaining the status quo as middle-ground between Saudi efforts to increase production and an Iranian push to cut output.

The minister spoke to reporters Thursday ahead of a meeting of the 12 oil ministers of the Organization of the Petroleum Exporting countries focused on price and production targets.

Referring to the existing output target of 30 million barrels a day, he said “I think this ceiling is good.”