As Oil Price Gyrates, Saudis and Russia Uncertain of Response - Bloomberg:
Oil prices are slumping and surging from one day to the next, and the two most powerful members of the OPEC+ coalition are yet to come up with a unified response.
Russian Energy Minister Alexander Novak and his Saudi counterpart Khalid Al-Falih met on Thursday in St. Petersburg, but the two architects of the production-cuts deal showed no sign of resolving their differences.
“We need more time to work out a final position” before a meeting scheduled for the coming weeks in Vienna, Novak told reporters late Thursday after meeting with Al-Falih. “Closer to the date of the meeting we’ll understand better what actions to take.”
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