The price point for crude oil that would likely trigger action from major oil producers is around $35 per barrel, a Swiss-based market research group said The price for Brent crude oil has increased about 10 percent since Saudi Arabian Oil Minister Khalid al-Falih said “if there is a need to take any action to help the market rebalance,” ministers meeting next month in Algeria would follow through with agreements . A previous proposal to freeze oil production at early 2016 levels collapsed along multilateral fissures as members of the Organization of Petroleum Exporting Countries and non-members fretted over market shares. Olivier Jakob, the managing director at Swiss oil-market research group Petromatrix, said in an emailed report the […]