That's the big if. The Iranians have already said that they're not giving up any attempt to capture market share, which is a pretty good indication that they're not going to be onboard with this any time soon and they're going to pump like hell.
And, the Russian-Saudi-Quatari-Venezuelan agreement was to keep pumping at January levels, which are just a skosh below record production territory, which is going to tend to keep the glut, well, glutty.
Then there's also the fact that coming out of February and overall oil demand drops pretty hard for two to three months until the start of the summer driving season.
Finally, Venezuela is in such desperate financial straits right now that their only true option is to pump as much oil as they can, even if it means the per-barrel price continues to go down, and they know that they're screwed on that front, too, because their production has been plummeting.
They're facing the perfect *expletive deleted*it storm that could literally drive them to collapse, all because everyone knows that the Socialist cronies of the president can do a MUCH better job at running an oil company than can those bourgeoisie capitalist pig "experts!" And maintenance money? Screw that, you don't need to maintain this stuff! Give it to the people in the form of more free *expletive deleted*it!