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.
“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.”