Saudi Arabia and Russia would be freezing production at near record levels, indicating there still would be lots of supply. (canadianbusiness.com)
But Iran, which didn't even attend the talks, had always said it was unwilling to freeze production levels as it seeks to regain its share of the market which was lost during years of economic sanctions. (nbr.com)
As HSBC notes, Saudi Arabia's stance on freezing the production of oil is firm. (businessinsider.com)