A month ago, I wrote about "why OPEC will never cut production again." This weekend we saw Saudi Arabia put an exclamation point on the matter by scuttling a deal in Doha for an oil production freeze. The repurcussions of this decision will obviously be far reaching. Stating that "if we don't freeze, then we will sell at any opportunity we get," Saudi Prince Mohammed bin Salman made it clear going into the meeting that Saudia Arabia would not let up on production unless Iran agreed to a freeze, too. Given that Iran said they would not even attend the meeting, the outcome was not surprising at all, except to most oil ... (full story)