Reports emerged on Thursday that an attempt by Saudi Arabia to cut production quotas by large oil producing states in order to lift the price per barrel of petroleum has been flatly rejected by Russia, Iraq and Iran. The Saudi proposal to cut the Organization of the Petroleum Exporting Countries (OPEC) quota by 1 million barrels a day is scheduled to be tabled at Friday’s meeting of diplomats in Vienna. “We do not expect our colleagues in OPEC to put pressure on us…. It is not acceptable, it’s not fair,” Iranian Oil Minister Bijan Zangeneh told reporters in Vienna on Thursday. “It is our right and anyone cannot limit us to do it. We will not accept anything in this regard.”