VIENNA | OPEC ministers, Russia, meeting for oil production cut talks

VIENNA | OPEC ministers, Russia, meeting for oil production cut talks

VIENNA  — OPEC countries are mulling a possible cut to oil production in an attempt to stabilize prices as they meet for a second straight day.

Heavyweight Saudi Arabia has been pushing a cut of about 1 million barrels a day, but the oil cartel was not able to make a decision on Thursday.

Analysts say they’re likely waiting to hear from non-OPEC Russia to better coordinate the cut.

Heading in to Friday’s meeting in Vienna, Nigerian Petroleum Minister Ibe Kachikwu told reporters he was “hopeful” the nations would be able to reach an agreement.

Continue reading VIENNA | OPEC ministers, Russia, meeting for oil production cut talks at STL.News.