China Added Stimulus to Boost Growth; Hopes of ECB Easing Heightened after Weak CPI

Crude oil prices strengthened on further easing from China and Saudi Arabia's pledge to freeze production. Saudi Arabia, Russia, Venezeula and Qatar are working on a plan to freeze oil output at January. In its latest statement, Saudi affirmed that it "will always remain in contact with all main producers in an attempt to limit volatility and it welcomes any cooperative action".

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/insights/china-added-stimulus-to-boost-growth-hopes-of-ecb-easing-heightened-after-weak-cpi--2016030132433/