OPEC and Russia will discuss record oil output cuts on Thursday to support prices hammered by the coronavirus crisis but Russian President Putin has no plans to discuss oil with US, Saudi Arabia according to Kermline
“There are no such plans for today,” the Kremlin spokesman said when asked about such a possibility.
Global fuel demand has plunged as much as 30 percent as measures to fight the virus have grounded aircraft, reduced vehicle usage and curbed economic activity.
Kremlin spokesman Dmitry Peskov said a new deal on output cuts was “hardly possible” without others participating.
Ministers from OPEC+, which groups the Organization of the Petroleum Exporting Countries, Russia and other oil producers, as well as additional participants, will discuss the issue in a video conference at 1400 GMT. The United States was invited.
