With Iran deal looming, OPEC+ weighs oil cuts

OPEC+ production cuts may not be imminent and would coincide with the return of Iran to oil markets should it clinch a nuclear deal with the West, nine OPEC sources told Reuters on Tuesday.

Worried by a possible revival of Tehran's 2015 nuclear deal that could bring additional volumes to an oil market already hit by thin liquidity and big volatility, OPEC has signalled it is ready to cut production should a glut start building up.