Saudi Arabia Will Join April Oil Producer Meeting in Doha
- Crude prices have risen more than 30% since freeze proposed
- Qatar meeting would seek more commitments to cap production
Here's Why This Is Only the Fourth Time Oil Has Tanked
Saudi Arabia will join a meeting of producers from within and outside OPEC in Doha next month, adding weight to the campaign by financially stricken crude exporters to freeze output and overcome the glut that’s weighing on the market.
Qatar’s oil minister said that countries would meet in the nation’s capital Doha on April 17, without providing details of who would attend. While the participation of Iran is seen as critical for the deal to be effective, the meeting may go ahead without the Persian Gulf nation, according to two delegates who asked not to be identified because the talks are private. Saudi Arabia will attend, Oil Minister Ali al-Naimi told reporters on the sidelines of a conference in Berlin Thursday.