Hopefully this is a good sign and the meetings will bear fruit. The fruit being the stabilization of oil prices and eventual increase.
Officials from the Organization of the Petroleum Exporting Countries, Russia and other oil-producing countries will weigh whether to freeze production at current levels this weekend in Doha, Qatar. The meeting may have more to do with style than substance. The two biggest players, Russia and Saudi Arabia, are already pumping flat out and have little room to increase production if they wanted. Analysts, oil buyers and speculators are looking for signals that the countries will cooperate. Those signals have buoyed oil prices from a low of around $30 a barrel in mid-January to over $41 yesterday.
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