Energy Stocks Slide On Doha Jitters -- Canadian Commentary

(RTTNews) - Canadian stocks were slightly lower Friday, as energy stocks crumbled ahead of a crucial meeting of oil producers in Doha.

The S&P/TSX Composite Index lost 31.09 points, or 0.23%, falling from a monthly high set earlier this week.

Officials from Saudi Arabia, Russia and others are gathering in to discuss an output freeze that could put a floor under crude oil prices.

However, Iranian Petroleum Minister Bijan Zanganeh may not attend the Sunday meeting.

Saudi Arabia made clear that it won't sign any deal unless other major oil producers, including Iran, participate in the deal.

Disappointing Chinese economic news also weighed.

Gross domestic product grew 6.7 percent year-on-year following a 6.8 percent expansion in the fourth quarter of last year, data from the National Bureau of Statistics showed Friday.

May WTI oil settled at $40.36/bbl, down $1.14, or 2.8% for the session.

Earlier in the week, prices touched a yearly high above $42.

Energy shares lost 2.4% today, but gold stocks jumped 2.3%.

May WTI oil settled at $40.36/bbl, down $1.14, or 2.8% for the session.