Cairo – Mubasher: The deal reached to freeze oil output, oil should rise to $47 a barrel by June, said Bank of America Merrill Lynch.
Saudi Arabia, Qatar and Venezuela, and non-OPEC member Russia, reached an agreement this week to freeze output at January's highs, in a meeting held in Doha.
Oil prices rose this week by 14% as other parties outside the deal welcomed the move if adhered to by all members.
