Saudi Arabia and other OPEC members will seek to persuade Russia on Wednesday to join them in large additional oil output cuts to prop up prices which have tumbled by a fifth this year because of the coronavirus outbreak. A technical panel of several representatives from OPEC states, Russia and other producers recommended on Tuesday cutting output by as much as an extra 1 million barrels per day (bpd) during the second quarter only. Russia has so far signalled it might be willing to agree to extending existing cuts, which expire in March, but might find it difficult …read more
Source:: Yahoo Finance
