OPEC oil producers can’t agree on production limit

DOHA, Qatar — Top oil producers Sunday delayed an agreement to freeze crude-oil output to shore up low prices, saying they needed 'more time for further consultations.'

The decision followed talks in the Qatari capital Doha from which OPEC member Iran stayed away.

Qatar's Energy and Industry Minister Mohammed bin Saleh said at a news conference that participants in the meeting had agreed on the need for more time for discussion. He did not give details.

Bin Saleh said OPEC members would meet in Vienna in June to consider a freeze.

He avoided questions about whether Iran was to blame for failure to reach the deal.

'The freeze could be more effective definitely if major producers, be it from OPEC members like Iran and others, as well as non-OPEC members, are included in the freeze,' he said.

Eighteen OPEC member countries and major producers from outside the cartel discussed a freeze in oil production at January's levels.

Sources in Doha said Saudi Arabia, the world's top oil exporter, demanded that any cap deal must be binding on all producers.

In recent months, tension has grown between Saudi Arabia and its regional rival Iran.

Tehran has said it had no plans to sign the plan on freezing oil output.

Iran, which according to OPEC data produces between 2.8 million and 3.5 million barrels a day, is hoping a boost in production will help it recover from the international sanctions lifted after last year's deal on its nuclear program.

Oil prices this year fell to their lowest since 2004.