Seven nations - led by Saudi Arabia and Russia - agreed on Sunday to raise joint production by 188,000 barrels per day next month.
They will also continue the process - albeit only on paper - of resuming production that was halted several years ago.
At the same time, Iran's continued blockade of the Strait of Hormuz makes the calculations a theoretical exercise for the time being.
At this stage, we are basically talking about hypothetical future scenarios with the majority of barrels stranded, says Helima Croft, head of commodity market strategy at investment bank RBC Capital Markets.
