Saudi Arabia, Russia, Qatar and Venezuela agreed on Tuesday in Doha
freeze its oil production to the levels of January, announced Tuesday
Qatari energy minister.
"In order to stabilize oil markets, the four countries agreed to freeze production to its January level, as long as the other major producers to do the same," he told reporters Minister Mohammed Saleh al Sada.
The initiative was proposed to "stabilize the market, not only in the interest of producers and exporters of crude oil, but also the world economy," he added.
The OPEC countries and those who are not members of the cartel (such as Russia) will be held "intensive" contacts to implement the agreement, Saleh said.The announcement caused an immediate increase in fuel prices.
In late morning, the North Sea Brent for April delivery traded at $ 33.89 a barrel, rising 50 cents.
The "light sweet crude" (WTI) for delivery in March, rose 35 cents to $ 29.79.
AFP