Saudi Push for Early OPEC+ Meeting Hits Russian Resistance
- Riyadh seeks meeting as prices plunge due to China virus
- Russia so far pushing back on the proposal, delegates say
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Saudi Arabia’s push to convene an emergency OPEC+ meeting next month, bringing forward a gathering scheduled for March, ran into resistance from its key oil-market ally, Russia.
The kingdom, the biggest member of the Organization of Petroleum Exporting Countries, has consulted with fellow producers on expediting the meeting -- currently lined up for March 5 to 6 -- amid growing alarm that Asia’s coronavirus outbreak will weaken oil demand, several delegates said.