Saudi Arabia and Russia agree oil-output freeze in Qatar talks

Freezing output at January levels will be "adequate” and the nation still wants to meet the demand of its customers, Saudi Oil Minister Ali Al-Naimi said in Doha after talks with Russian Energy Minster Alexander Novak.

Venezuela has lobbied exporters including Russia, Iran and Saudi Arabia to arrange a meeting between OPEC members and other suppliers in an attempt to reach an agreement to balance the market.

 

(Bloomberg)