Russia and 3 OPEC Members Agree to Freeze Oil Output

February 16, 2016 12:31 PM

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Russia and 3 OPEC Members Agree to Freeze Oil Output

MOSCOW — In a sign of tentative cooperation among major oil producers, Qatar, Russia, Saudi Arabia and Venezuela announced a plan on Tuesday to freeze output at current levels, a move intended to help bolster energy prices.

The plan, albeit hardly concrete, reflects the troubled state of the oil industry.

Also read: Russia Sells Stake in Oil Giant Rosneft to Glencore, Qatar

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