Oil markets rose to a two-month high Tuesday as traders focused on the possibility of an output agreement among large producers. Russia’s energy minister said Tuesday that a “critical mass” of oil-producing countries had agreed to freeze oil production, and that a final decision on such a measure would be taken this month, state news agency TASS reported. Also on Tuesday, the United Arab Emirates’ energy minister said “everyone should move toward freezing production whether they like it or not,” due to current low oil prices. Russia, Saudi Arabia, Venezuela and Qatar announced last month that they were willing to freeze production at January levels. However, market participants are unsure whether the measure would help shrink the global glut of crude, as production was high in January and Iran hasn’t said it would participate in the deal. Iran’s oil output is expected to rise this year now that […]