Assessments

Saudi Oil and Mineral Resources Minister Ali al-Naimi (C) speaks to the press ahead of a meeting on Feb. 16 in Doha, Qatar, with Qatari, Venezuelan, and Russian energy ministers that led to an agreement to freeze oil production at current levels.

Despite a conditional deal to hold production at current levels, some countries have no intention of stopping the activities that are keeping oil prices low.

Tempered Expectations After an Oil Output Agreement

Highlights

Venezuela

Russia

Iran

Iraq

Saudi Arabia

United Arab Emirates

Energy

Politics

Commodities: A Cautionary Tale

Two weeks after Venezuelan Oil Minister Eulogio Del Pino visited Moscow and Riyadh hoping to persuade their governments to coordinate a cut in oil production, Russia, Saudi Arabia, Venezuela and Oman have conditionally agreed to freeze oil production at January levels, if other producers agree to as well. So far, Kuwait and Iraq have signed on to the deal. While it is not the cut that Del Pino had hoped for, the production freeze will add stability to a volatile market.

ASSESSMENTS

Tempered Expectations After an Oil Output Agreement

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