Oil meeting in Qatar collapses without freeze as Iran absent

A meeting of oil-rich countries in Qatar that had been expected to boost crude prices by freezing production fell apart Sunday as Iran stayed home and vowed to increase its output despite threats by Saudi Arabia.

Oil prices, which hit a 12-year low in January by dipping under $30 a barrel, had risen above $40 in recent days, buoyed by the bullish talks surrounding the Doha summit.

via ynetnews.com

Source: http://www.ynetnews.com/articles/0,7340,L-4792964,00.html

Leave a Reply

Your email address will not be published. Required fields are marked *