Last updated: November 21, 2017

Oil prices plunge after Doha output talks fail

The collapse of Sunday talks in Doha sent oil tumbling in Asia trade early on April 18, 2016Oil prices plunged on Monday after the world's top producers failed to reach an agreement on capping output aimed at easing a global supply glut during a meeting in Doha. Hopes the world's main producer cartel, OPEC, and other major exporters like Russia would agree to freeze output has helped scrape oil prices off the 13-year lows they touched in February. At around 0100 GMT, US benchmark West Texas Intermediate for May delivery was down $ 2.11, or 5.23 percent, from Friday's close at $ 38.25 a barrel.



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