Saudi, Russia debate record oil cut as U.S. resists action

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OPEC and Russia will discuss record oil output cuts on Thursday to support prices hammered by the coronavirus crisis but talks are complicated by internal disagreements and the reluctance of the United States to join in any action.

Global fuel demand has plunged as much as 30% as measures to fight the virus have grounded aircraft, reduced vehicle usage and curbed economic activity.

U.S. President Donald Trump said last week a deal he had brokered with OPEC leader Saudi Arabia and Russia could lead to cuts of 10 million to 15 million barrels per day (bpd), or 10% to 15% of global supplies, an unprecedented reduction.

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