NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

OPEC, allies to confer on Sunday to try to end standoff over cuts plan - sources

Published 12/04/2020, 13:54
Updated 12/04/2020, 13:55
© Reuters. The logo of the Organisation of the Petroleum Exporting Countries (OPEC) sits outside its headquarters in Vienna

DUBAI (Reuters) - OPEC and its allies will hold a virtual meeting on Sunday evening in a bid to end a standoff that has prevented the finalisation of a global oil supply cut pact, six OPEC+ sources said.

The conference will be held at 1600 GMT, the sources said.

OPEC, Russia and other allies, a group known as OPEC+, outlined plans on Thursday to cut output by more than a fifth in an effort to prop up prices hammered by the coronavirus crisis.

© Reuters. The logo of the Organisation of the Petroleum Exporting Countries (OPEC) sits outside its headquarters in Vienna

But Mexico balked at the production cuts it was asked to make, delaying signing a final deal.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.