OPEC+ Extends Virus Crisis Talks as Russia Resists Oil Cuts
- Meeting of group’s experts in Vienna spills into third day
- Saudis engage in diplomacy to push for output reduction
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Talks between officials from OPEC and its allies spilled into an unprecedented third day as Saudi Arabia and Russia remained split over their response to China’s coronavirus.
Delegates gathered again in Vienna on Thursday after two days of meetings weren’t enough to shift Russian resistance to deeper production cuts. Saudi Arabia, engaging in capital-to-capital diplomacy, has been pushing for the cartel to reduce output as the deadly epidemic squeezes China’s economy and its demand for oil.