The world’s largest oil producers are gathering in Algeria, but investors shouldn’t expect a production freeze, at least not right now. “Comments from the Iranian oil minister [on Tuesday] calling this just a consultation meeting and that any decisions should be made at an official OPEC meeting says it all; that’s game over in terms of any decision being made,” said Jasper Lawler, a market analyst with CMC Markets, based in London. Lawler attributed Wednesday’s 1% rise in oil prices to expectations that Saudi Arabia may eventually agree to a freeze deal. TheStreet’s Scott Gamm reports from Wall Street.
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