OPEC's Missing Meeting Shows Strain in Saudi-Russia Alliance - Bloomberg

OPEC's Missing Meeting Shows Strain in Saudi-Russia Alliance - Bloomberg:

The partnership at the heart of the OPEC+ alliance showed further signs of strain after Russia pressured the Saudi-led group to delay a decision on the future of their production cuts.

The unusual recommendation to cancel next month’s scheduled meeting means the group probably won’t decide whether to prolong its supply curbs until late June, just days before they expire.

At talks in Baku, Azerbaijan on Monday, Russian Energy Minister Alexander Novak convinced the committee overseeing the output cuts that the scheduled April meeting would be too soon to agree an extension. Khalid Al-Falih, the Saudi energy minister who had initially been in favor of making a decision at that time, acquiesced saying “April will be premature.”