Oil nations to meet in April in effort to freeze output

Oil producers including Gulf Opec members support holding talks next month on a deal to freeze output even if Iran declines to participate, Opec sources said, as political pressure to prop up prices increases.

Opec and non-Opec producers will meet in Doha on April 17, said Qatari energy minister Mohammed bin Saleh Al-Sada, following a February agreement between Saudi Arabia, Qatar, Venezuela, and non-Opec Russia to stabilise output.

“To date, around 15 Opec and non-Opec producers, accounting for about 73% of global oil output, are supporting this initiative,” Mr Sada said in a statement.