Talks extended over wording of Doha oil output freeze agreement

Talks between Opec and non-Opec oil producers in the Qatari capital of Doha have been running for over two hours with the main debate focusing on the wording of a proposed freeze on output, industry sources said on Sunday.

Some 18 countries, including Russia, had been due to meet on Sunday morning to rubber-stamp a deal – in the making since February – to freeze output at January levels until October 2016.

But the meeting was postponed after Opec’s de facto leader Saudi Arabia told participants it wanted all Opec members to take part in the freeze.

As a result, a reworked draft communique seen by Reuters contained none of the binding points of the previous outline.

It also said producers in and outside the Organization of the Petroleum Exporting Countries should agree to freeze oil production at “an agreeable level” as long as all Opec countries and major exporting nations participated.

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