Since oil prices cratered, no oil-producing country has eliminated as much production as the U.S. The trend should continue until 2017.
Daniel Yergin of IHS says that a deal between oil producers would just be a start in figuring out how to get the oil market back in balance.
CNBC's Hadley Gamble reports on conflict in the Middle East, where bomb blasts killed at least 120 people in two Syrian cities.
Consultations on a preliminary deal between leading oil producers to freeze output should be concluded by March 1, Russia's energy minister told local television.
Whether oil prices are actually close to stabilizing after months of painful declines depends on one wild card factor.
Stephane Foucaud, managing director of institutional research at FirstEnergy Capital LLP, discusses Saudi Arabia and shares his oil price forecast.
Iain Reid, senior oil & gas equity analyst at Macquarie, says the oil market is re-balancing, but slowly.
Talks between major oil producers about freezing output shows how painful cheap oil is becoming, but it is not likely to bring an end to the world oil glut anytime soon.
Helima Croft of RBC Capital Markets and Michal Meidan of Energy Aspects give their outlooks for an oil production cut.
Helima Croft of RBC Capital Markets and Michal Meidan of Energy Aspects discuss how Iran may react to the OPEC output freeze.
Iran says it could support any effort to stabilize oil prices, including cooperation between OPEC and non-OPEC oil producers.
CNBC's Hadley Gamble says Saudi Arabia's decision to freeze oil output at January levels helps its relationship with Russia.
Russia and Saudi Arabia agreed to freeze oil output levels but markets were not impressed. Here's the simple reasons why.
Traders will watch Wednesday to see whether oil and stocks can continue to diverge.
Getting Russia and Saudi Arabia together for oil output negotiations was a big feat, explains ANZ's Daniel Hynes.
Clipperdata's Matt Smith explains why the Saudi Arabian-Russian proposal to freeze production is not a game changer.
Four big world oil producers opened the door to an output freeze, but Oil Price Information Service's Tom Kloza tells CNBC such a deal seems unlikely.
With headlines around the Saudi Arabia and Russia output freeze, the oil market is still under pressure, says Paul Sankey of Wolfe Research.
Qatar, Saudi Arabia, Russia and Venezuela would lead an effort to freeze output at January levels, but Iran had yet to be convinced.
Qatar, Saudi Arabia, Russia and Venezuela lead an effort to freeze output at January levels.