OPEC and its allies will meet in Vienna on March 5-6, officials confirmed Wednesday, formally abandoning plans to hold an earlier summit to confront the coronavirus’ impact on oil markets. Saudi Arabia had urged other members in the alliance known as OPEC+ to meet in early to mid-February, as news of the coronavirus outbreak caused oil prices to plunge, but Russia, the key non-OPEC participant, balked. Ministers have been sent invitations with the March 5-6 dates, officials said. “The Russian strategy was to delay for some clearer data that might mitigate the need for a cut,” a source familiar with the deliberations told S&P Global Platts. Front-month ICE Brent futures have rebounded 11% from their February 10 low to trade at $59.16/b as of 1719 GMT. But that is still down some 10% year to […]