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Russia and Saudi Arabia agree to freeze oil production output
rt.com The world’s two biggest crude producers say they won't increase oil output. Along with Russia and Saudi Arabia, Qatar and Venezuela have agreed to freeze production at January levels, according to Russia's Energy Ministry.
"A deal will be reached if other producers join the initiative," said Russian Energy Minister Aleksandr Novak after the meeting with his Saudi counterpart.
Saudi Oil Minister Ali Al-Naimi said freezing output at January levels would be “adequate” however the country still wants to meet the demand of its customers.
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