Highlights Saudi Arabia seeking flexibility if Iran nuclear deal reached OPEC meeting in progress, Russia and other allies to join later Ministers also considering extending supply pact to end-2022 OPEC and its allies appear in striking distance of a deal on production quotas, discussing proposals that call for an output increase of about 2 million b/d from August to December to meet recovering global oil demand, three sources told S&P Global Platts. If agreed, the OPEC+ alliance’s collective production cuts would shrink by about one-third by the end of the year to about 3.76 million b/d, from July’s 5.76 million b/d. The sources, who spoke on condition of anonymity, said the deal was not yet finalized and that Saudi Arabia was seeking some flexibility to rescind all, or part of the output increases, if Washington […]