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Oil output freeze to be discussed next month in Qatar

16 March 2016 12:21 (UTC +04:00)

Baku - APA-Economics. Oil prices firmed on Wednesday on an announcement that producers will meet next month in Qatar to discuss a proposal to freeze output and on growing signs of a decline in U.S. crude production, Reuters reported.

Producers both from and outside the Organization of the Petroleum Exporting Countries will hold talks in the capital Doha on April 17, Qatari oil minister Mohammed Bin Saleh Al-Sada said.

Around 15 OPEC and non-OPEC producers, accounting for about 73 percent of global oil output, support the initiative, the minister said in a statement.

Brent LCOc1 crude futures were up 48 cents at $39.22 a barrel at 0948 GMT.

U.S. crude futures CLc1 were trading 60 cents a barrel higher at $36.94.