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Half of Global Oil Glut May Disappear If Output Deal Works, Says Russia

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KRASNOYARSK, Russia, Feb 19 (Reuters) - The global oil market is over-supplied by around 1.8 million barrels per day (bpd), but that glut could be halved if a deal to freeze oil production at last month's levels takes effect, a top Russian energy official said on Friday.


Leading OPEC member Saudi Arabia, non-OPEC member Russia, Qatar and Venezuela this week agreed to freeze output at January levels if others joined in. Iran welcomed the move but stopped short of pledging to act itself and it is unclear whether the freeze will actually happe



http://www.downstreamtoday.com/news/article.aspx?a_id=51163


BS.

The Iranians will not join any freeze anyhow

They have absolutely no interest in co-operating with the Saudis.

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