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Sunday, January 23, 2022

Oil-producing countries fail to reach deal in Doha

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Discussions to stabilize oil prices collapsed yesterday after Saudi Arabia said it would not agree to freeze output unless Iran did as well, Bloomberg reports.

Oil ministers of 16 nations, representing about half the world’s output, had gathered at the Sheraton Doha to discuss production levels. Following the failed talks, OPEC and non OPEC-members will reconvene in June.

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