Oil Falls as Doha Output Talks Fail Amid Saudi Demands on Iran
- No deal as Saudi Arabia states all OPEC members take part
- Kuwait's output fell 60% on Sunday amid oil-workers strike
Al Rumhy: Doha Failed Agreement Was a Disappointment
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Oil slid after talks Sunday in Doha between the world’s biggest producers ended without an agreement to limit supplies.
Futures dropped 1.4 percent in New York, paring an earlier loss of 6.8 percent. The summit in the Qatari capital, which dragged on for more than 10 hours beyond its scheduled conclusion, finished with no final accord. Declines eased as a labor strike in Kuwait, OPEC fourth-biggest member, cut output for a second day. Output from the country’s northern fields was back to normal, the Kuwait Oil Co. said in a statement.