G20 summit concludes, with no resolution on Saudi-Russia oil price war

S&P Global Platts | Mar 26, 2020 at 6:05 PM
  • Saudi Arabia and Russia appear no closer to a detente in their oil price war, despite Thursday’s videoconference summit of G20 leaders to discuss the coronavirus’ impact on the world economy.
  • A post-meeting statement by the organization did not mention oil nor energy, despite US pressure on Saudi Arabia this week to ease off its plans to flood the market with crude.
  • US Secretary of State Mike Pompeo had spoken to Saudi Crown Prince Mohammed bin Salman on Wednesday.