The meeting of the major oil producers in Doha resulted in failure and led to an oil prices slump. The stock markets of the developing countries and their currencies decreased as well. Maximum influence was experienced by oil-exporters.
Negotiations in Qatar ended with no resolution due to Saudi Arabia high profile on an issue. Riyadh would freeze oil production only if Iran joined the discussions. Tehran will support the initiative only after its own production reaches 2 million per barrel. They plan to export 30-35% to Europe. In particular, Iran wants to supply the Old World’s market, which is a key buyer for Saudi Arabia.
