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DUBAI/MOSCOW, April 4 (Reuters) - OPEC and Russia have postponed a Monday meeting to discuss oil output cuts until April 9, OPEC sources said on Saturday, as a dispute between Moscow and Saudi Arabia over who is to blame for plunging crude prices intensified.
RIYADH: Leaders of the Group of 20 major economies pledged on Thursday to inject US$5 trillion (4.1 trillion pounds) in fiscal spending into the global economy to blunt the economic impact of the coronavirus and "do whatever it takes to overcome the pandemic."
NEW YORK:Oil prices jumped over 8% on Tuesday, bouncing from the biggest rout in nearly 30 years a day earlier, as the possibility of economic stimulus encouraged buying and U.S. producers slashed spending in a move that could cut output.
DUBAI: Saudi Arabia plans to increase oil output next month, going well above 10 million barrels a day, as the kingdom responds aggressively to the collapse of its Ooec+ alliance with Russia.
MOSCOW: At 10:16 am on a wet and dreary Friday morning, Russia’s energy minister walked into Opec’s headquarters in central Vienna knowing his boss was ready to turn the global oil market upside down.
VIENNA: Opec+ found itself stuck yet again, after a day of talks ended with its two most important members split over whether they should deepen production cuts to offset the huge demand hit from the coronavirus epidemic.
RIYADH: Opec hasn’t made a decision yet on whether to extend or modify its agreement to cut oil output, Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said.
SINGAPORE: Oil prices tumbled more than 2% on Monday as investors worried about a hit to demand from the coronavirus outbreak, which is spreading rapidly outside China.
NEW YORK: Crude futures dropped 2% to three-month lows on Monday as the death toll from China's coronavirus grew, curtailing travel and fueling expectations of slowing oil demand.