OPEC Set for Another Meeting With No Deal After Doha Failure
- All but 1 of 27 analysts see no supply accord at June meeting
- ‘Is OPEC dead or just in a coma?’: Commerzbank’s Weinberg
Iran Says It Won't Freeze Oil Output Yet
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After failing to reach an accord on oil supply in Doha last month, OPEC is poised to go another meeting with no agreement on how much crude to produce.
All but one of 27 analysts surveyed by Bloomberg said the Organization of Petroleum Exporting Countries won’t set an output target on June 2, as it sticks with Saudi Arabia’s strategy of squeezing out rivals including U.S. shale drillers by pumping near-record volumes. An accord on an output cap with non-members such as Russia collapsed in Doha last month when Saudi officials insisted Iran would need to take part.