A simmering feud between Saudi Arabia and Russia is thought to be one of many possible complications to an unprecedented production cut.
On Thursday morning, Reuters reported, citing two unnamed OPEC sources, that differences between Riyadh and Moscow remain over the baseline and volumes for any oil cuts.
"We don't expect anything will be decided before the G-20 meeting," Schieldrop said, partly because the OPEC+ meeting had been "instigated" by President Donald Trump. The restrictions have created an unprecedented demand shock in energy markets, just as a price war broke out between powerhouse producers Saudi Arabia and Russia.
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