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Global Oil Deal at Risk After Mexico Refuses Saudi-Russia Plan

  • Moscow and Riyadh had agreed on deep production cuts
  • Attention now on Friday’s meeting of G-20 oil ministers
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WATCH: Trump says he held a "very good" conference call with Russian and Saudi Arabian leaders to discuss global oil production.(Source: APTN/Bloomberg)
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An historic multilateral deal to lower global oil production and stabilize prices, led by record cuts from Saudi Arabia and Russia, is at risk of collapse after Mexico refused to sign up.

The impasse casts doubt on efforts to revive the market from a debilitating coronavirus-induced slump. The deal by the coalition of nations known as OPEC+, which dwarves s previous interventions and has been sponsored by U.S. President Donald Trump, would end the price war between Riyadh and Moscow that helped pushed oil down to the lowest in almost two decades.