OPEC+ emergency meeting postponed to April 8 or 9
The dispute between Saudi Arabia and Russia has deepened
OPEC and its allies (OPEC+) are reportedly planning to postpone their emergency tele-meeting, which was slated for 6 April, Reuters wrote, citing two OPEC sources.
The organisation decided to postpone the meeting as key members Saudi Arabia and Russia have argued over who is to blame for the crash in oil prices.
The last meeting in early March ended bitterly as Russia refused further cuts, and Saudi Arabia cut its own prices in a bid to grab more market share. This was set against the backdrop of the coronavirus pandemic, which has cut demand for oil.