New York Times: Major Oil Exporters Fail to Agree on Production Freeze
DOHA, Qatar — Officials from 18 oil-producing nations failed on Sunday to reach a deal to freeze oil production at current levels.
The officials, who represented most of the Organization of the Petroleum Exporting Countries as well as Russia, seemed to head into the meeting full of confidence that a deal to stabilize the oil markets could be reached.
Instead, the talks dragged into the evening before Qatar’s energy minister, Mohammed bin Saleh al-Sada, told a news conference that the group had been unable to reach agreement.
“The meeting concluded that we all need time for further consultation,” Mr. Sada said. He said that “participating countries will consult among themselves and with others” until the next OPEC meeting, which is scheduled for June in Vienna.
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WNU Editor: The markets are responding .... Oil Futures Crash Most In 7 Months, Stocks Tumble (Zero Hedge). The pundits are blaming Saudi - Iranian tensions for the collapse in these talks .... Saudi-Iran tensions scupper deal to freeze oil output (Reuters).
More News On Today's Collapse In Talks To Freeze Oil Production
Oil meeting aiming to cap output ends without agreement -- BBC
Oil Meeting in Qatar Collapses Without Freeze as Iran Absent -- AP
Saudi-Iran tensions scupper deal to freeze oil output -- Reuters
Top oil countries fail to reach deal on production freeze -- CNN
Doha talks fail to reach oil production freeze -- USA Today
Oil Prices Fall After Producers Fail to Reach Deal at Doha -- WSJ
Talks on oil freeze collapse under Saudi opposition -- Financial Times
Oil Plunges After Output Talks Fail Amid Saudi Demands Over Iran -- Bloomberg
Oil prices are set to plunge again after major producers failed to agree to a production freeze -- Quartz
Oil price falls after Doha summit ends without output freeze deal -- CNBC
Doha Deadlock: Oil Producers Meeting Collapses In Predictable Disagreement -- Gaurav Sharma, Forbes
The biggest oil meeting in decades went nowhere because Iran stayed home -- Jon Gambrell, Associated Press
