World's top oil exporters meeting to cap output ends without agreement April 18, 2016 - 17:46 AMT PanARMENIAN.Net - A meeting of the world's leading oil exporters to discuss capping production has ended without agreement, BBC News reports. After hours of talks in Qatar, the country's energy minister Mohammed bin Saleh al-Sada said that the oil producers needed "more time". Most members of the Opec producers' group, plus other oil exporters including Russia, attended the talks. They wanted a deal that would freeze output and help stem the plunge in crude prices over the past 18 months. Oil prices tumbled in Asian trading as a result, with the price of both U.S. and London crude oil down more than 5%. Talks hit difficulties earlier on Sunday, April 17 as reports emerged of tensions between Iran and Saudi Arabia. Iran did not attend the meeting. Saudi Arabia, the world's largest oil exporter, appeared willing to only freeze output if all Opec members agreed, including Iran. But Iran maintained it would continue the increase in oil production it has followed since economic sanctions were lifted earlier this year. Russia's oil minister Alexander Novak said Moscow had not closed the door on a global deal to freeze output.  Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads.   Partner news |  Related sections Latest news The Power of One Dram to benefit Road of Life charity  The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization.Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia.Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty.Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |
