Saudis, Russia agree oil output freeze: Qatari minister

OPEC's acting president Mohammed Saleh al-Sada, minister of energy and industry of QatarEnergy giants Saudi Arabia and Russia agreed Tuesday to freeze oil output to try to stabilise the market if other major producers do the same, Qatar’s oil minister said. The Saudi and Russian oil ministers, along with their Venezuelan and Qatari counterparts, “agreed to freeze the production at (the) January level provided that other major producers follow suit,” said Qatar’s Energy Minister Mohammed bin Saleh al-Sada. “This step is meant to stabilise the market,” said Sada, who is acting president of the OPEC oil cartel, describing the meeting in Doha as “successful”.

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