Investing.com - Oil prices fell on Monday after Iran dashed hopes that there would be a coordinated production freeze any time soon
Brent crude futures fell back below $40 a barrel, while U.S. crude was down almost 2%
Iran's oil minister said it would only join the output freeze group once they reached production of 4 million barrels a day
Worries about demand also weighed as Morgan Stanley (NYSE:MS) warned that a slowing global economy and high production would prevent any sharp rises in oil prices