Oil prices rose to the highest level of the year Tuesday on increased expectations that major oil producers will agree to freeze output at a meeting coming on Sunday. The global oil market remains oversupplied more than a year and a half after prices started plunging in mid-2014. While production has started to fall in some regions due to cuts in spending, especially in U.S. shale-oil regions, global output continues to outpace demand. Traders are waiting on a Sunday meeting of major producers in Doha, Qatar, to discuss freezing production. Some investors see this as a prelude to an output cut later in the year, while others say that freezing production at levels that are already high will do little to alleviate the global glut of crude. News reports from Russia in support of the deal boosted prices Tuesday. But questions remain whether the participating countries can reach […]