Energy

OPEC meeting to decide on historic output cuts

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Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman Al-Saud and Russian Energy Minister Alexander Novak at the start of an OPEC and NON-OPEC meeting in Vienna, Austria, December 6, 2019.

Leonhard Foeger | Reuters

Some of the world’s largest oil producers will try to agree on the terms of historic output cuts on Thursday, as the coronavirus pandemic continues to crush worldwide demand for crude.

An emergency video meeting between OPEC and non-OPEC partners, sometimes referred to as OPEC+, started shortly after 4:10 p.m. Vienna time.

President Donald Trump has fueled hopes of a cut far larger than any deal OPEC+ has ever agreed on before, suggesting the energy alliance could take…



Source cnbc.com

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