Share

Saudis Weigh Large Oil Cuts in Response to Coronavirus

Saudi Arabia is pushing for a major, short-term oil production cut as it seeks to respond to the impact of China’s deadly coronavirus on crude demand, according to OPEC officials. Representatives of the Organization of the Petroleum Exporting Countries and its allies are set to meet Tuesday and Wednesday to debate possible action after the outbreak…

Saudi Arabia is pushing for a major, short-term oil production cut as it seeks to respond to the impact of China’s deadly coronavirus on crude demand, according to OPEC officials.

Representatives of the Organization of the Petroleum Exporting Countries and its allies are set to meet Tuesday and Wednesday to debate possible action after the outbreak in China, the world’s largest oil consumer, led to the biggest monthly crude-price drop in 30 years.

Read More

Leave a Comment