OPEC Chief Says Group Is Making Renewed Push for Oil Deal
- Producers building consensus for deal to limit oil volatility
- Secretary-General Barkindo speaks from Mecca, Saudi Arabia
Secretary-General Mohammad Barkindo
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
OPEC and its allies are displaying a “renewed commitment” to reach an accord that will stabilize oil markets hit hard by the coronavirus, the group’s top official said.
All eyes will be on the group’s meeting next week after crude prices slumped to a one-year low below $46 a barrel in New York. The disease has slashed fuel demand in China and threatens global economic growth, but the 23-nation coalition has so far appeared divided over its response, with Saudi Arabia pressing for production cuts and Russia taking a more cautious stance.