LONDON:– Oil rose Tuesday after top producers Saudi Arabia and Russia agreed in
principle to freeze output in a bid to stabilise an oversupplied market -- if others do the same. In early afternoon London deals, Brent North Sea crude for delivery in April advanced 50 cents to $33.89 per barrel. US benchmark West Texas Intermediate for March delivery added 41 cents to $29.85 a barrel from Monday's closing level. The Saudi and Russian oil
ministers, along with their Venezuelan and Qatari counterparts, "agreed to freeze the
production at (the) January level provided that other major producers follow suit," said Qatar's Energy Minister Mohammed bin Saleh al-Sada on Tuesday.–AFP