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Opinion
Liam Denning

This Oil Market Hears What It Wants to Hear

Saudi hint of a production freeze won't get past the talking stage.

As long as there are eager buyers of bridges, there will be willing sellers.

Oil has rallied 8 percent over the past week or so on the pleasingly oxymoronic notion of a rekindled freeze. The big move came on Thursday when Saudi Arabia's energy minister, Khalid Al-Falih, indicated the OPEC kingpin was open to taking action to stabilize prices.