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Oil producers fail to agree output freeze

Qatar's Energy Minister Mohammed bin Saleh al-Sada holds a press conference during a meeting between major oil producing countries on April 17, 2016, in the Qatari capital DohaThe world’s top oil producers failed to reach agreement on capping output in Doha Sunday amid a standoff between Saudi Arabia and Iran and raising fears about how markets will react. Qatari Energy Minister Mohammed bin Saleh al-Sada said oil producers concluded after six hours of negotiations that they needed “more time”. “The general conclusion was that we need more time to consult among ourselves in OPEC and non-OPEC producers,” Sada said.

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