Doha delusions
Unless the freeze becomes cuts its significance is minimal and efforts to keep talking up the market could backfire
Nothing gets the oil press’s pulses racing like signs of Saudi supply constraint – more so if it comes with whiffs of wider machination. Moscow and Riyadh doing a deal over Syria to lift oil prices? It doesn’t get juicier. As a way to explain Brent’s 28% rise from mid-February to $40/b on 23 March, the freeze agreed between the two countries in Doha on 16 February (and including Qatar and Venezuela) looks plausible. The kingdom seems willing at last to broach supply-side management. Oil minister Ali al-Naimi says the freeze is “the beginning of a process”. On 17 April, several more producers will supposedly arrive in Doha to discuss a broader agreement. Under any scrutiny, though, the Doha d
Also in this section
24 December 2025
As activity in the US Gulf has stagnated at a lower level, the government is taking steps to encourage fresh exploration and bolster field development work
23 December 2025
The new government has brought stability and security to the country, with the door now open to international investment
23 December 2025
A third wave of LNG supply is coming, and with it a likely oversupply of the fuel by 2028
22 December 2025
Weakening climate resolve in the developed world and rapidly growing demand in developing countries means peak oil is still a long way away
