While a technical panel of the OPEC+ coalition is recommending an additional cut of 600,000 bpd in response to the lower oil demand due to the coronavirus outbreak, OPEC’s key ally in the deal, Russia, continues to be a holdout on the need to cut deeper to counter the oil price slide. After three days of discussions of the OPEC+ Joint Technical Committee (JTC) in Vienna, the panel is reportedly recommending a deeper cut, of 600,000 bpd. But Russia, which has sent delegates to the committee’s meeting, has been uncertain about further cuts all week, and is now asking for more time to have the top officials at home review the recommendation and the market situation, delegates told media on Thursday. Russia’s Energy Minister Alexander Novak reiterated in Moscow today that it is too early to talk about any decision that should be taken as part of the OPEC+ […]