Oil prices bounced higher on Wednesday on an upcoming meeting in Qatar to discuss an output freeze and on expectations of U.S. production declines. U.S. crude futures were trading at $37.09 per barrel at 11.47 GMT, up 2.09%. Brent was up 1.91% at $39.48 a barrel. Oil rose after prices dropped about 2% the previous session. Sources at OPEC said a meeting of producers led by Saudi Arabia and Russia to discuss an output freeze will take place on April 17, even without Iran. But analysts said that talks about freezing output would do little to rein in a global glut that sees over 1 million barrels of crude produced every day in excess of demand.