CNBC | Oil drops more than 5%; energy stocks sell off CNBC A deal between nearly 20 of the world's largest oil exporters, including Saudi Arabia and non-OPEC member Russia, had been hoped to formalize an output freeze at January levels. In February, Russia, Saudi Arabia, Qatar and Venezuela agreed to freeze ... Major Oil Exporters Fail to Agree on Production Freeze Oil slides after Saudi opposition blocks talks on output freeze Oil prices are set to plunge again after major producers failed to agree to a production freeze |