OPEC and its allies are due to discuss oil production cuts next week following US President Donald Trump’s claim that leading producers Russia and Saudi Arabia will slash output to boost tumbling prices.
The meeting was originally expected to be held via video conference on Monday, but now looks likely to be pushed back to “take place later in the week,” said a source close to OPEC, who asked not to be named.
On Thursday, kingpin exporter Saudi Arabia called for an urgent meeting of OPEC and other countries to “stabilise the oil market” following a phone call between Trump and Saudi Crown Prince and de facto leader Mohammed bin Salman.
