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OPEC, Russia could meet to discuss emergency cuts as coronavirus crushes oil price

OPEC, Russia could meet to discuss emergency cuts as coronavirus crushes oil price

Saturday, February 1, 2020, 8:26 AM

OPEC and its allies could meet soon to discuss deepening their production cuts, in an effort to stem the sharp decline in oil-prices due to a demand scare from the coronavirus-outbreak. Oil has plunged 21.4% from the early January high when Iran launched rockets at U.S. military-bases in Iraq. West-Texas-Intermediate was at $51.59/barrel Friday, after trading as high as $65.65 in early January.
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