Major oil producers meet to tackle oversupply

The world’s leading oil exporters are meeting to tackle oversupply. Officials from Russia, Saudi Arabia and other OPEC countries will meet today in Doha in Qatar. Oil prices have tumbled to below 30 US dollars per barrel, a record low in more than a decade. Analysts say oil exporters may reach a consensus for a production freeze to ease the global glut, without cutting supply. But they also warn it could be very difficult to reach a deal, with new countries like Iran set to join the oil export market after sanctions were lifted.

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