VIENNA, March 4 (Reuters) - A panel of several ministers
from OPEC, Russia and other producers failed on Wednesday to
clinch an agreement about whether to make additional oil output
cuts to prop up tumbling crude prices, an OPEC source said.
The source said Russia, which has been resisting additional
cuts that are backed by Saudi Arabia and others, proposed
keeping existing cuts by the group known as OPEC+ until the end
of the second quarter, while some OPEC producers wanted extra
cuts of 1 million to 1.5 million barrels per day (bpd).
Russian Energy Minister Alexander Novak, who had held talks
with his Saudi counterpart earlier on Wednesday, left the
meeting of the oil panel, known as the Joint Ministerial
Monitoring Committee, after more than three hours of talks.