The world’s biggest oil producers have failed to reach agreement at a meeting aimed at freezing output and reassuring markets that a recent recovery in prices could be sustained.
Sunday’s talks in Qatar’s capital saw the Organisation of the Petroleum Exporting Countries (OPEC) – and, unusually, other producers – trying to agree that average daily crude oil production in the coming months would not exceed levels recorded in January.
Qatari Energy Minister Mohammed Saleh al-Sada said – after six hours of negotiations that consultations would continue between the parties until an OPEC meeting in June.
“All participating countries will consult among themselves and with others,” he said.
Oman’s Oil Minister Mohammed al-Rumhy said one reason a deal could not be reached was that not all OPEC members were present.
“Until this morning we thought there would be a deal. We didn’t know Iran wasn’t coming,” he told Al Jazeera.
Source: Al Jazeera
