OPEC deal a tough task, as oil output freeze expectations rise

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"The comments by the Saudi energy minister give a ‎positive indication that they are willing to go for a freeze deal but the question remains: on what level?" said an OPEC source from a key Middle Eastern producer.

"Will the freeze be at January levels? And what about Iran‎?And then there is Nigeria, which has lost a lot of production since January," the source added.

Only days after Falih's remarks, Energy Minister Alexander Novak was quoted as saying Russia is consulting with Saudi Arabia and other producers to achieve oil market stability, adding that the door is still open for more discussions on output freeze, if needed.