| Global watchdog doubtful about April meeting while Commerzbank says market expectations are 'hopelessly excessive'. The oil price is stuck at around $40 a barrel and may even move lower in the next month or so as optimism in the market rests on a deal to freeze supplies that the global energy watchdog has warned could be "meaningless".
Since hitting multi-year lows early last month, oil has rallied by around 50 per cent. International benchmark Brent crude hit $27 a barrel on 11 February and has hit several new 2016 highs in the past two weeks, with the latest coming on Tuesday, when it peaked at just shy of $41.80...............................................Full Article: Source
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