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Stock Futures Fall After OPEC Meeting Fails to Bring Deal

Stock futures fell on Monday morning after weekend talks among members of the Organization of Petroleum Exporting Countries failed to culminate in a deal.

S&P 500 futures were down 0.29%, Dow Jones Industrial Average futures fell 0.22%, and Nasdaq futures slid 0.24%.

Crude oil tumbled after a meeting of nearly 20 of the largest oil exporters in the world didn't result in an agreement to freeze production levels. Optimism over a deal had led oil prices to rally in recent weeks, though Iran had made clear it would not participate as it ramps up output to pre-sanction levels. In February, Saudi Arabia, Qatar, Venezuela, and non-OPEC member Russia had agreed to freeze output levels if other producers agreed to join.