CNBC | US crude closes 1.46 pct higher at $48.10 on OPEC freeze speculation CNBC A two-year long selloff in oil has severely hurt the economies of Venezuela, Iraq and Nigeria. Those nations are seen as more anxious to boost crude prices than OPEC producers such as Saudi Arabia and Iran, which are more keen in protecting market share. Oil Prices Flip to Gains on Iran Reports Oil turns higher on report Iran may support crude-output freeze Oil up over 1 percent as Iran signals support for OPEC freeze action |