The “Doha oil freeze deal” was a farce from the beginning.
It all started with a February 11 Hail Mary attempt by Venezuela to boost oil prices by launching a rumor that oil production would be frozen (ignoring that both Russia, Saudi Arabia and Iraq are already pumping out a record output).
VENEZUELA OIL MIN PROPOSED OPEC, NON-OPEC ‘FREEZE’ PRODUCTION AT CURRENT LEVELS: RTRS. And Saudi Arabia laughed?
— zerohedge (@zerohedge) February 11, 2016