OPEC meet fails to decide on oil production freeze
The Dollar Business Bureau The top most oil producing countries have failed to decide on production freeze during the OPEC meeting in Doha, Qatar on Sunday. This is a precedent to the two failed meetings in December 2015 and February this year to cap the crude oil prices, which have risen from $26 per barrel in February to above $40 on expectations that the OPEC countries could come to a consensus. The ongoing tension between Saudi Arabia and Iran is a key reason for the failure of OPEC countries to sign an agreement or freeze output at January levels. Iran has decided not to attend the OPEC meeting, and continued producing oil until it regains the market share after following the lifting ...
