Saudi Arabia and Russia, the world’s two largest crude producers, agreed to freeze output after talks in Qatar.
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)
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