Gulf OPEC members eye joint action on oil output - source

Wed Jun 1, 2016 5:25am EDT
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VIENNA (Reuters) - Gulf OPEC countries are seeking coordinated action by the producer group to help stabilize oil markets, a senior OPEC source told Reuters.

The Organization of the Petroleum Exporting Countries holds a regular meeting on Thursday. Earlier this year, a global initiative to freeze production was rejected by Saudi Arabia, which said it would act only if rival Iran participated.

(Reporting by OPEC newsroom; Editing by Dale Hudson)

The logo of the Organization of the Petroleum Exporting Countries (OPEC) is pictured at its headquarters in Vienna, Austria, August 21, 2015. REUTERS/Heinz-Peter Bader