OPEC is still debating a three-, six- or nine-month extension of its oil output agreement but will 

not consider deeper cuts, Iranian oil minister Bijan Zanganeh said Wednesday. 

"All  agree...to  maintain OPEC's production ceiling, [but] the term is not clear," Zanganeh said 

on the sidelines of an Iranian cabinet meeting in Tehran, according to the country's ISNA news 

agency. "Maybe three months, six or nine months." 

He added that he was under the impression that "Saudi Arabia is looking to raise [oil] prices."