Ministers from the powerful OPEC group of oil producers got together again on Friday, a day after failing in a marathon meeting to agree on a fresh output reduction deal they hope would stem prices which have been under pressure from abundant reserves and weak global economic growth.
Friday’s so-called OPEC+ meeting included Russia, the world’s second-largest oil producer and not a member of the cartel. Saudi Oil Minister Prince Abdulaziz
Ben Salman, who is attending his first meeting in the post, admitted that Thursday’s six-hour meeting had seen delegations “labouring… Until 11 o’clock in the evening, squashing their heads, squeezing their brains” in search of an agreement.
However, ministers seemed hopeful about the prospects of an eventual deal on an overall output level and each member’s share.
