Analysts skeptical that meaningful freeze deal can be reached Iran’s Rouhani says ‘vital’ to restore pre-sanctions output An international agreement to cap crude-oil output in a way that would restrict actual supply and support prices looks no nearer after the two largest producers pledged to cooperate. Most members of the Organization of Petroleum Exporting Countries that can raise production have indicated they will aim to do so, while others are already close to short-term limits. Monday’s joint statement by the oil ministers of Saudi Arabia and Russia, billed as a “significant” announcement, was “without any substance for market balances,” Amrita Sen, chief oil analyst at consulting firm Energy Aspects Ltd., said in Singapore. Although both nations committed to discuss measures to help the oil market, including a potential output freeze, Saudi Arabia said there’s no current need to limit production. Russia’s Energy Ministry also expressed doubt last week that […]