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    A man rides a camel through the desert oil field and winter camping area of Sakhir, Bahrain, Sunday, Dec. 20, 2015

    Oil Prices Fall Amid Producers' Failure to Reach Deal to Freeze Output

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    Global oil prices dropped on Monday after oil producing countries had failed to reach an agreement in the Qatari capital Doha to freeze oil output.

    MOSCOW (Sputnik) — The price for Brent's North Sea petroleum mix has decreased by 3.9 percent to $41,42 per barrel. The cost of the May futures for WTI dropped by 4.29% to $39,92 per barrel.

    On Sunday, the participants of the meeting in the Qatari capital failed to reach an agreement on freezing the oil output in a bid to stabilize global crude prices. According to Russian Energy Minister Alexander Novak, all participants understood that a deal to freeze the oil output is necessary, but had different requirements to the deal's conditions.

    Related:

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    Oil Market Will Restore Due to Supply-Demand, Not Fragile Deals - Rosneft
    Brent Crude Prices Fall 6% Amid Failure to Reach Deal to Freeze Oil Output
    Oil Market to Even Out by Mid-2017 Without Oil Output Freeze Deal
    Tags:
    production freeze, falling oil prices, Brent
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