What’s Next for Oil After the Doha Talks?

Crude oil prices fell below $40 per barrel after key producers failed to reach an agreement to freeze production during talks held in Doha, Qatar. During the much-anticipated talks, Saudi Arabia refused to participate in a deal without Iran making similar concessions. Meanwhile, Iran is still working to bring production levels up to historical norms following the lifting of its sanctions and refused to freeze its production at the depressed levels.