Oil: Doha Ended in Disappointment – Deutsche Bank
Research Team at Deutsche Bank, suggests that all eyes were on oil this
morning as the long awaited producers meeting in Doha ended in
disappointment last night.
Key Quotes
“Following
extended talks, OPEC members and major producers walked away without
any agreement on a production freeze. Prior to this, the WSJ had
suggested that a draft accord had been circulated calling for a freeze
at January levels until the end of October.
Saudi Arabia seems
to have taken a harder stance however with the major sticking point the
lack of participation from Iran, who failed to even send a
representative to the meeting. Following the end of the meeting, the
energy minister of Qatar was however cited as saying that OPEC members
will continue to consult between themselves as well as non-OPEC members
up until June with the bi-annual OPEC meeting set to be held on June
2nd.”
