Rizal Philippines
April 18, 2016
OPEC fails anew to curb production
18 member nations of OPEC failed to agree yesterday to set production quota thus announced Qatar Energy Minister Mohamed bin Saleh al - Sada.
The deal which took two months to set up failed when Iran did not send representative since they said, they would not agree to production cuts anyway.
The news sent the oil prices spiralling down again. The inability of OPEC to strike a deal and agree on price has diminished its power to control prices and would have a serious implication on oil prices
