OPEC pushing Russia to support big oil output cut amid coronavirus
Vienna: Saudi Arabia and other OPEC members were seeking to win support from Russia on Wednesday to join them in new additional oil output cuts to prop up prices which have tumbled by a fifth this year because of the coronavirus outbreak.
A technical panel of several representatives from OPEC states, Russia and other producers recommended on Tuesday cutting output by between 0.6-1.0 million barrels per day (bpd) during the second quarter only.
It also recommended that existing cuts of 2.1 million bpd by the group known as OPEC , which meets in Vienna this week, be extended until the end of 2020.
