Russia ready to join output freeze, Energy Minister says Saudi minister says no need for freeze now: Al Arabiya Oil pared gains as talks between Russia and Saudi Arabia over ways of stabilizing the crude market fell short of a freeze on output. Futures rose 2.3 percent in New York, after climbing as much as 4.7 percent before what was flagged as a “significant” announcement by Saudi Arabia’s Energy Minister Khalid Al-Falih at the G20 summit in China. There is no need to freeze production now, Al-Falih told Al Arabiya television. The Saudi minister said he was optimistic a meeting later this month between producers in Algiers would bring agreement as his Russian counterpart Alexander Novak said the two nations were seeking ways to ease oil market volatility. “The […]