Saudi Arabia discussing proposal to cut oil output by up to one million bpd by OPEC and allies - sources

ABU DHABI (Reuters) - Saudi Arabia is discussing a proposal to cut oil output by up to 1 million barrels per day by OPEC and its allies, two sources close to the discussions told Reuters on Sunday.The sources said the discussions were not finalised as much depended on the reduction in Iranian exports.“There is a general discussion about this. But the question is how much is needed to reduce by the market,” one of the sources said, speaking in Abu Dhabi where a market monitoring committee is..