The Guardian: World’s biggest oil producers meet to discuss possible freeze on production
Rare off-scheduled meeting between Opec and non-Opec suppliers will focus on what they can do to staunch the continued global surplus of crude oil.
The world’s biggest oil producers will huddle in Doha on Sunday in a rare off-scheduled meeting where discussion about what they can do to staunch the continued global surplus of crude oil that’s weighed on prices for nearly two years.
Hopes that members in the Organization of Petroleum Exporting Countries cartel and non-Opec oil suppliers, mostly notably Russia, may agree to freeze production pushed crude oil prices to their highest levels this year ahead of a meeting between the two groups.
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WNU Editor: This meeting is already doomed .... Oil Prices: Iran Pulls Out Of Doha Summit, Set To Reach Production Limit (IBTimes). And to further make the point on what Iran is planning to do .... Iran's Massive Oil Fleet Begins To Move: 29 Million Barrels Depart Iran In Past 2 Weeks (Zero Hedge).
Update: Saudi Arabia has responded to this Iranian position .... Doha Is Done: Saudi Prince Drops Bomb - "No Deal Without Iran...We Are Selling At Every Opportunity" (Zero Hedge)
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