DUBAI/MOSCOW (Reuters) – OPEC and Russia have postponed a meeting planned for Monday until later next week, OPEC sources said on Saturday, as a row intensified between Moscow and Saudi Arabia over who is to blame for plunging oil prices.
FILE PHOTO: Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman Al-Saud and Russia’s Energy Minister Alexander Novak are seen at the beginning of an OPEC and Non-OPEC meeting in Vienna, Austria December 6, 2019. REUTERS/Leonhard Foeger/File Photo
The meeting’s delay came despite pressure from U.S. President Donald Trump for the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, to urgently stabilize global oil markets.
OPEC+ is working on an unprecedented oil output curb equal to about 10% of world supply, or 10 million barrels per day, in what member states expect to be a global effort that will include the United States.
Oil prices hit an 18-year low on March 30 due to sliding demand caused by government…
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