The OPEC+ meeting to try to end the oil price war may be delayed as Saudi Arabia and Russia's ongoing rift intensified, Bloomberg News reported.
OPEC+, an alliance of OPEC members plus Russia and other nations that accounts for roughly half of global oil production, may now tentatively hold the virtual gathering April 9, instead of April 6.
OPEC+ may need additional time for negotiations as Riyadh and Moscow trade barbs about who is to blame for a dip in oil prices, the report added, quoting a delegate familiar with the matter.
Saudi Arabia criticized comments by Russian President Vladimir Putin that the kingdom should be blamed for the crash in oil prices. Foreign Minister Prince Faisal bin Farhan called the comments "devoid of truth" and a "distortion of facts."
The price war broke out after Russia rejected a Saudi-led OPEC proposal in March to deepen production cuts in response to the coronavirus pandemic.