CRUDE SUMMARY: Saudis throw doubts on production deal

摘要

LONDON (ICIS)--Crude oil futures opened in negative territory on Friday and both contracts eased during the early hours amid persistent concerns over the global oversupply. Prices climbed ahead of the European open amid positive purchasing managers index (PMI) data for China’s manufacturing and non-manufacturing sectors in March. Although prices showed some strength, the gains were completely wiped out after comments from Saudi Arabia that it will not freeze oil production at January levels unless Iran and others join the pact.