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OPEC+ countries still cannot agree on quotas to reduce oil production — sources

The sources attributed the meeting postponement from April 6 to April 9 to the failure to meet a consensus

April 6. /TASS/ OPEC+ countries still cannot reach a preliminary consensus on individual volumes of oil production cuts, three sources in delegations told TASS on Monday. Due to the unavailability of the proposal, the meeting was postponed from April 6 to April 9, the sources explained.

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OPEC+ conference postponed to April 9 for technical reasons, says Kremlin

"The proposal [on the terms of the deal] is not yet ready," said one of the sources, explaining the reason for the postponement of the meeting. According to another TASS source, Russia and Saudi Arabia could not reach an agreement on the possible extent of the restriction over the weekend.

The total quota for reducing oil production may reach 10-15 mln barrels per day, as suggested by Russian President Vladimir Putin and US President Donald Trump. There is no agreement between the largest partners on the volume of individual quotas, TASS sources note.

Earlier, Bloomberg stated that the main disagreement over quotas was between Russia and Saudi Arabia. In addition, the partners want the United States and other G20 countries to take a real part in reducing production. So far, only Canada and Norway expressed willingness to be involved in consultations on the issue.

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