OPEC, other nations fail to reach deal on production freeze
The Organisation of the Petroleum Exporting Countries (OPEC) and non-OPEC producers on Sunday failed to reach a deal to freeze oil output, three oil industry sources told Reuters.
Sources said OPEC producers had told non-OPEC members they needed first to reach a deal within OPEC, possibly at a June meeting. After that, the OPEC will be able to invite other producers to join.
Meanwhile, Qatar's oil minister Mohammed al-Sada said that the OPEC needed more time for consultations to reach an output freeze deal.
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