OPEC talks on production hit snag as pandemic clouds outlook

The OPEC oil producers’ cartel was to push ahead with a new round of discussions Tuesday about how much oil to pump next year as countries wrestled over whether to extend production cuts to support prices depressed by the pandemic.

Members adjourned a videoconference after a first day of deliberations Monday ended without an agreement. They also put off from Tuesday to Thursday a meeting with non-OPEC oil producers like Russia, who have been coordinating their actions with the cartel in recent years to increase their influence.

Oil producing countries face a difficult situation. The pandemic has sapped demand for fuel across the economy, which induced them to cut back production this year to keep prices from sagging even more than they have. Yet the lower production means less revenue for governments that depend on oil sales to fill state coffers.