Oil falls after Saudi Arabia, Russia delay meeting

LONDON: Oil prices fell on Monday after Saudi Arabia and Russia delayed a meeting to discuss output cuts that could help to reduce global oversupply as the coronavirus pandemic pummels demand.

Brent crude fell more than $3 when Asian markets opened but recovered some ground, with traders hopeful a deal between the top producers was still within reach.

At 1135 GMT, Brent was down 81 cents, or 2.4%, at $33.30 a barrel. U.S. crude was 65 cents, or 2.3%, lower at $27.69 a barrel, off a session low of $25.28.