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OPEC meeting in Qatar ends without oil-production freeze
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A high stakes meeting of oil-exporting states in Qatar has failed to agree to freeze production.
Saudi Arabia and others want a cap to try to boost prices, but Iran, which pulled out of the meeting last minute, won't agree.
Qatar's oil minister said the group needs more time to construct the outlines of a deal to freeze output.
The next scheduled OPEC meeting is in June.
The oil prices have risen in recent weeks largely due to the belief that major exporters would agree to limit supply.
The international benchmark, Brent crude, ended the trading week at around 43 U.S. dollars a barrel, having fallen to as low as 27 dollars earlier this year.
Visit ‘Arirang News’ Official Pages
A high stakes meeting of oil-exporting states in Qatar has failed to agree to freeze production.
Saudi Arabia and others want a cap to try to boost prices, but Iran, which pulled out of the meeting last minute, won't agree.
Qatar's oil minister said the group needs more time to construct the outlines of a deal to freeze output.
The next scheduled OPEC meeting is in June.
The oil prices have risen in recent weeks largely due to the belief that major exporters would agree to limit supply.
The international benchmark, Brent crude, ended the trading week at around 43 U.S. dollars a barrel, having fallen to as low as 27 dollars earlier this year.
Visit ‘Arirang News’ Official Pages
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