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2/25, 9:57 AM (Source: TeleTrader)
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Saudi energy minister: No OPEC decision on output deal yet

Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman (pictured) said on Tuesday that the Organization of the Petroleum Exporting Countries (OPEC) hasn't yet decided on extending or deepening its output cut deal ahead of next week's meeting in Vienna.

Speaking at a conference in Riyadh, the Saudi minister told the audience the cartel and allied producers still haven't "run out of ideas" and are in constant communication.

Crude benchmarks crashed on Monday amid heightened fears over the coronavirus outbreak spreading to countries outside China. OPEC's Vienna meeting will be held from March 5-6.

Breaking the News / JC