The wait for Moscow signals how much OPEC has changed since 2016 when Saudi Arabia and Russia ended their historic animosity.
A meeting of Saudi Arabia, Russia and other members of the OPEC+ group recommended an oil production cut.
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Saudi Oil Minister Attacks Macron's Move to Raise Fuel Prices
Talks are preliminary and the size of final production cut will largely depend on starting point the OPEC and its partners use.
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Saudis and Russia Open the Oil Taps While the Market Just Shrugs
OPEC’s largest producer is currently pumping about 10.7 million barrels a day.
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Russia Can Beat Post-Soviet Oil-Output Record If Market Needs It
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Oil’s rally to $70 a barrel is threatening to clip India’s economic wings.