Russia, Saudi Arabia, Venezuela and Qatar decided to freeze oil production at January 2016 levels in an historic agreement on Feb 16th. Prices have risen with hopes of a decline in production to balance supply and demand. Nigeria will join the group in a 2nd meeting on March 20 to discuss how to stabilize the crude oil market. Russia and Saudi Arabia continue to produce at their near -record January levels, and Iran continues to ramp up production. Without full cooperation between OPEC and non-OPEC producers the oil price is expected to continue to fluctuate.