Russia and Iran talking energy

The latest reports say an OPEC/Non-OPEC meeting aimed at production freeze will take place in mid-April. Iran continues to say it wants no part in discussions until it ramps up exports to 4 million barrels per day.

There are signs of cooperation with Russia, according to reports. They are in talks of laying electricity lines between the two countries via Armenia and Azerbaijan. Other talks centre on oil and gas swaps.

None of the headlines are market-movers for oil but the OPEC monthly report is due later and that is likely to sway crude prices.

At the moment, oil is testing Friday's US low of $37.21.