OPEC producers are trying to negotiate a compromise deal that could result in the cartel boosting production by between 300,000 bpd and 600,000 bpd over the next few months, Bloomberg reported on Monday, citing people briefed on the talks. OPEC’s largest producer and de facto leader Saudi Arabia and Russia, the leader of the non-OPEC group of producers in the OPEC/NOPEC production deal, are lobbying for reversing some of the production cuts that have been in place since January 2017. But some OPEC members—including Iran, Venezuela, and Iraq—are opposing an increase in production and argue that the pact should stay in tact through the end of 2018, as planned. The three biggest dissenters with the Saudi-led campaign to boost production will veto Riyadh’s proposal at this week’s meeting in Vienna, Iran’s OPEC governor Hossein Kazempour Ardebili told Bloomberg over the weekend. “Three OPEC founders are going to stop it,” […]