Crude Oil Below $33 Despite Talk Of Consensus On Output Freeze

Crude oil prices were flat Monday morning amid further signs that major producers are nearing a deal to freeze output.

Nigerian oil minister Emmanuel Ibe Kachikwu told CNBC that “there is a lot of conversation going on and there’s a lot of consensus building on the issue of the freeze.”

He says Saudi Arabia and Russia are in on the plan.

April crude oil was up 2 cents at $32.85 a barrel.

At 10 am ET, the National Association of Realtors is scheduled to release its U.S. pending home sales report for January.

The material has been provided by InstaForex Company – www.instaforex.com