Oil prices tumble after failure of Doha talks
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Singapore
OIL prices tumbled on Monday after a meeting by major exporters in Qatar collapsed without an agreement to freeze output, leaving the credibility of the Organization of the Petroleum Exporting Countries (Opec) producer cartel in tatters and the world awash with unwanted fuel.
Tensions between Saudi Arabia and Iran were blamed for the failure, which revived fears that major government-controlled producers will increase their battle for market share by offering ever-steeper discounts.
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