OPEC and Russia have postponed a meeting planned for Monday until later next week, OPEC sources said on Saturday, as a row intensified between ...
DUBAI/MOSCOW: OPEC and Russia have postponed a meeting due on Monday to discuss oil output cuts until April 9, OPEC sources said on Saturday , as a row between Moscow and Saudi Arabia over who is to blame for plunging crude prices intensified.
Washington, however, has yet to make a commitment to join the effort and Russian President Vladimir Putin on Friday put the blame for the collapse in prices on Saudi Arabia - prompting a firm response from Riyadh on Saturday. OPEC sources, who asked not be identified, said the emergency virtual meeting planned for Monday would likely now be postponed until April 9 to allow more time for negotiations.
The United States is not part of OPEC+ and the idea of Washington curbing production has long been seen as impossible, not least because of US antitrust laws. Russian Energy Minister Alexander Novak told Russian state media he understood that the United States had legal restrictions on output cuts but it should still be flexible.
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