Energy

OPEC’s Saudi Arabia and Russia are at loggerheads once again

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Saudi Minister of Energy Abdulaziz bin Salman (R) is pictured with his Russian counterpart Alexander Novak as they arrrive for a meeting of the Saudi-Russian Joint Committee on December 19, 2020.

FAYEZ NURELDINE | AFP | Getty Images

LONDON — A group of some of the world’s most powerful oil producers will hold a crucial meeting on Thursday to discuss reversing some of the output cuts it made last year.

OPEC and its non-OPEC partners, an energy alliance sometimes referred to as OPEC+, will convene via videoconference in a bid to reach consensus over how to manage supply to the market.

The group last year agreed to restrict the amount of oil it produces in an effort to prop up oil prices as…



Source cnbc.com

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