OPEC puts heads together over oil output cuts

Top oil producers are on Thursday to discuss a possible cut in output after a collapse in demand due to the coronavirus and a Saudi-Russian price war caused the market to crash.

The teleconference scheduled for 1400 GMT between OPEC, its OPEC+ allies including Russia and other key non-members is seen as the best chance of providing support to prices which are wallowing near two-decade lows. Experts warn that without concerted action the commodity risks another steep sell-off.