Top
image credit: Pixabay

OPEC deal in jeopardy as Russia stalls over deepest round of supply cuts since 2008

March 6, 2020

OPEC and non-OPEC allies have so far failed to agree on how much production to cut amid the coronavirus outbreak, with Russia reportedly refusing to give the green light to the deepest supply cuts since the global financial crisis.

Oil prices slipped Friday afternoon after Reuters reported a senior high-level Russian source said Moscow would not be prepared to approve a further reduction in production.

Read More on CNBC energy