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Tempered Expectations After an Oil Output Agreement

Feb 16, 2016 | 18:25 GMT
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.
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.
(OLYA MORVAN/AFP/Getty Images)

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,...

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