Saudi Arabia ready to freeze output at January levels – Algeria’s Energy Minister

Doha debacle is still fresh in the memory and hence markets do not expect this week’s meeting in Algeria to end on a bullish note.

Algeria Energy Minister offered some hope by informing markets that Saudi is ready to freeze its output at January levels. However, Saudi has made it clear time and again that it would agree to production freeze if (Iran) & other agree to do as well.

Moreover, Saudi Arabia signaled on Friday that the Algiers meeting will be consultative and unlikely to reach a firm decision.