Oil Falls From 4-Month High as Speculation Swirls on Doha Talks
- OPEC, non-OPEC producers to discuss output freeze on April 17
- U.S. supplies at 536.5 million barrels, most since 1930: EIA
Will Output Freeze Make for Bullish Oil?
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Oil fell from a four-month high as speculation swirled over the likely outcome of a meeting by major suppliers in Doha.
Futures dropped 1 percent in New York. Prices swung amid contradictory reports on whether Iranian Oil Minister Bijan Namdar Zanganeh will attend the April 17 talks in the Qatari capital. U.S. crude inventories rose to the highest level in more than 80 years last week, while production fell below 9 million barrels a day, an Energy Information Administration report showed Wednesday.