Potential oil output freeze can't stop oil's slide
Michael Hsueh, commodities analyst at Deutsche Bank, examines the agreement by Saudi Arabia and Russia to freeze oil production at January levels and how Iran re-entering the market impacts the deal.
Saudi Arabia, Qatar, Russia and Venezuela on Tuesday reportedly agreed to freeze oil production at January levels if other oil-producing countries do the same.
But indications that Iraq and Iran have no plans to slash production dampened hopes for a global reduction in oil output — and prices relinquished earlier gains, slipping into negative territory.
West Texas Intermediate crude was down 6... read more
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