The decision made by Saudi Arabia, Russia, Venezuela and Qatar to freeze production at January levels is an important step toward countering the oil glut in the market. These countries constitute 26 percent of the supply and can affect the price if other producers agreed with them.
https://english.alarabiya.net/en/views/news/middle-east/2016/02/21/The-dilemma-surrounding-oil-production-cuts.html
I-BRIDGE's blog (Link Campus University's Research Centre on Global Affairs) - editor, Marco Emanuele - Critical thinking, complexity, international relations (Twitter, @Glob_Eye - Facebook, https://www.facebook.com/marco.emanuele.50)
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