4 oil producers agree output freeze, Iran refuses

“Brent crude futures pared gains Tuesday following news that Qatar, Saudi Arabia, Russia and Venezuela would lead an effort to freeze output at January levels, dashing hopes of a cut in production.

Oil producer Iran swiftly dashed hopes of a deal however, saying it would not abandon its share in the oil market, although Reuters cited two two sources familiar with the matter as saying the OPEC member could be offered special terms under a global deal to freeze oil production levels.”

Source: 4 oil producers agree output freeze, Iran refuses

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