Brent oil rose as Russia said talks on an output freeze will be done by March 1, while Nigeria said some countries should have production capped at higher levels. Futures rose as much as 1.9 percent in London, paring a two-day, 4.3 percent slide. Iran was “constructive” on the deal struck last week to cap output, although it hasn’t said whether it may join the pact, Russian Energy Minister Alexander Novak told state TV on Saturday. While Nigeria backs the plan, Iraq and Iran should be allowed to recover lost market share, Minister of State for Petroleum Resources Emmanuel Kachikwu said Sunday. “Even if the proposal is agreed, it’s unlikely to have much difference to the balance of the oil market in the near term,” Ric Spooner, a chief analyst at CMC Markets in Sydney, said by phone. “Prices also face the relentless weight of growing inventories, which are […]