Here is what others are saying this morning:
The fate of the first global oil deal in 15 years could be decided on Wednesday when OPEC members travel to Iran to persuade the country to participate in a deal to freeze output levels, possibly by offering Tehran special terms.
Oil traders aren’t too impressed with Saudi Arabia and Russia’s accord to cap oil production at near-record levels.
Asian shares were taking a breather on Wednesday, looking to consolidate two sessions of solid gains as risk appetites finally showed some resilience to the latest selloff in oil prices.
Gold extended losses to a fourth session on Wednesday as calm in the global stock markets curbed demand for the safe-haven asset that had rallied last week to its highest in a year.
Though refining capacity and consumption are now well balanced, the oil companies need to look at meeting the demands of an economy that is set to grow at close to double-digits over the next five years and more.