Crude decline extends as Russia punts on OPEC+ action

摘要

Crude futures settled lower Friday after Russia requested more time tomull further production cuts, potentially blocking any action fromOPEC+ to backstop sliding oil prices.ICE April Brent settled down 46 cents at $54.47/b and NYMEXMarch WTI was down 63 cents at $50.32/b at market close.Saudi-led efforts to implement deeper oil production cuts by OPECand its allies to tackle the coronavirus' impact on the market remainedin limbo Thursday, with key ally Russia not yet on board with a proposalfor 600,000 b/d in new supply curbs.