Saudi Russia Venezuela Freeze Oil But Doesn’t Matter

Awash In Crude

 

Saudi Arabia and Russia, the world’s largest crude-oil exporters, announced plans to cap production if other major producers followed suit, but it wasn’t enough for investors seeking stronger measures to drain the global oil glut.

Even if oil producers all agreed to a global production freeze at January levels, the world would still have about 300 million more barrels a year than needed.

 

Source: http://on.wsj.com/1Odzton

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