(Bloomberg) — Russia’s oil minister returns to Vienna on Friday for a tense meeting with the country’s OPEC allies, as the cartel engages in a high-stakes diplomatic gamble that risks a price crash if it backfires.OPEC ministers told Russia on Thursday that if it doesn’t join them in cutting oil output by another 1.5 million barrels a day to offset the impact of the coronavirus, then the cartel could abandon its reductions altogether. Hours later, the group raised pressure on Moscow again, emerging from an informal meeting at the Saudi delegation’s hotel with a proposal to extend the curbs for …read more
Source:: Yahoo Finance
