Saudi Arabia, Russia, Qatar and Venezuela met in Doha on Tuesday and agreed to freeze individual oil productions at January 11 levels, provided that other major oil producing countries would do the same. Precisely this last point is problematic as it is unlikely Tehran will join the consensus. Iran has been adamant to regain its share in the global oil market, which dramatically fell in recent years due to western sanctions. As a result, it is unlikely Iran will make any adjustments to its oil production in the post-sanctions era.
Anadolu News Agency from Turkey spoke about the matter with Sijbren de Jong (HCSS) and Cyril Widdershoven (MEA Risks LLC). The full article can be read here.
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