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Sunday, 27 November 2016

Saudis sink Russia oil talks as Opec deal hangs in the balance | GulfNews.com

Saudis sink Russia oil talks as Opec deal hangs in the balance | GulfNews.com:
"Saudi Arabia pulled out of planned talks with non-Opec nations including Russia as disagreements about how to share the burden of supply cuts stood in the way of a deal to boost prices just days before a make-or-break meeting in Vienna.
Opec officials were scheduled to meet with non-members including Russia on Monday before a ministerial meeting in Vienna two days later. The meeting was later cancelled entirely after the Saudis decided not to take part.
Instead, the group called another internal meeting to try to resolve its own differences, particularly the question of whether Iran and Iraq are willing to cut production, said two delegates, asking not to be identified because the deliberations are sensitive. Saudi Arabia wants an Opec deal in place before conversations with other producers such as Russia, one delegate said."

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