Fiasco of negotiations of oil producers in Qatar

On Sunday in Doha, negotiations on an oil freeze with the participation of 18 producer countries that want to raise the price of raw materials ended in failure. Participants said it "takes more time" to make a decision and freeze production.

The meeting in Doha was not attended by one of the largest oil producers, Iran, which has already warned that it is not going to limit the production of raw materials, as it wants to return to the oil market after several years of an embargo on its oil.

Qatari Energy and Industry Minister Muhammad bin Salih al-Sada said after six hours of talks that it would take more time for OPEC (Organization of Petroleum Exporting Countries) and other countries. He added that he did not set a date for the next meeting. According to other sources, the next round of negotiations may take place in June. Russia, an ally of Iran, worked hard prior to Sunday's summit to reach an agreement with Tehran, as Saudi Arabia, the informal leader of OPEC, sees it as its main rival.

The negotiators expect that the freezing of production at the January level could balance the oil market and raise prices for this raw material. Western media said that this is the most important meeting for 30 years, but in order to reach a consensus, manufacturers will have to meet again. The prospect of negotiations involving producers from OPEC and non-cartel countries hinges on the need to first reach an agreement within their cartel before offering other producers to join the initiative.