Saudi Arabia, Russia have no agreement on oil cuts prior to OPEC+ talks: Sources

The logo of OPEC is pictured at the OPEC headquarters in Vienna. (File photo: AFP)

Saudi Arabia and Russia still need to resolve differences over plans for deep global oil production cuts, a Russian source and an OPEC source said on Thursday, hours before the start of talks between OPEC, Russia and others over efforts to prop up prices.

“I’m not sure how Russia and Saudi Arabia would be able to iron out their differences today, it all could be stretched out,” the Russian source told Reuters.

Two Russian sources said the maximum Russian oil production cut under any global pact on supplies would be 2 million barrels per day (bpd).

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Last Update: Wednesday, 20 May 2020 KSA 10:02 - GMT 07:02
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