In an attempt to control oil prices, members of OPEC gathered in Doha on Sunday to try to negotiate a freeze in global output. Russia and Saudi Arabia put on a good show of cooperation in advance of the assembly, and oil prices rose all final week. But the Iranian oil minister was absent from the assembly in Doha, and an expectation that the Russian minister could convince Iran to depart along with a freeze went nowhere.
Dan Dicker,author of "Shale Boom, Shale Bust: The Myth of Saudi America, and " explains why these petroleum producers failed to reach an agreement.
Source: wnyc.org