Any hope of a coordinated output freeze between leading oil producers and an end to the recent sharp swings in the commodity's price are likely to be dashed, one expert has told CNBC.
"I think the prospect of a tangible production freeze (in April) is minimal. I think the fact that they're actually talking about one is a thing that the markets will jump on," Simon Fentham-Fletcher, CIO at Freedom Asset Management, told CNBC Monday.
"Russia will not and has never held to any production freezes ever and I can't see it doing so now. The Saudis are in the same situation, they've been trying to grab market share and we have Iran coming back online, they were very unsure about the levels of the Iranian oil production," Fentham-Fletcher added.
Leading OPEC and non-OPEC producers are expected to meet in Doha on April 17 to discuss a solution to oil's current supply glut. However recent comments made by leading OPEC members have suppressed many analysts' hopes of a potential cut or freeze this month.