Faced with a slump in demand and plunging oil prices, OPEC’s top producer and de facto leader Saudi Arabia is asking members of the OPEC+ group to consider an additional collective cut of 1 million bpd when the coalition meets in Vienna next week, Financial Times reports , citing five people with knowledge of the talks. The Saudi proposal has been discussed this week during a visit to Saudi Arabia of OPEC’s Secretary General Mohammad Barkindo, the FT reports. The 1-million-bpd collective cut would be 400,000 bpd higher than an initial proposal of a technical panel of the OPEC+ group which proposed earlier this month that the coalition reduce production in Q2 by 600,000 bpd to counter the slump in oil demand caused by the coronavirus outbreak. Within OPEC, several of the key members are leaning toward a deeper cut, four sources familiar with the talks told Reuters on […]