Saudi-Mexican clash halts record oil cut deal despite Trump pressure - Reuters:
Top oil nations struggled to finalise record output cuts at G20 talks on Friday to boost prices slammed by the coronavirus crisis, as Saudi Arabia clashed with Mexico despite U.S. President Donald Trump’s mediation offer.
OPEC led by Saudi Arabia and its allies led by Russia, which together make up the informal OPEC+ group, had forged a pact to curb crude production by 10 million barrels per day (bpd) or 10% of global supplies in marathon talks on Thursday.
Russia and OPEC said they wanted other producers including the United States and Canada to cut a further 5%.
But efforts to conclude the deal hit the buffers when Mexico said it would only cut output by a quarter of the amount demanded by OPEC+.
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