OPEC+ Fails to Find a Way Forward Amid Coronavirus Concerns

The failure of OPEC+ to agree on a production restraint comes at a time when the oil market is expected to see a continuing accumulation of inventories during the second quarter of 2020 due to demand disruptions related to the coronavirus outbreak. But even without an official restraint in place, it remains unlikely that Saudi Arabia or other Gulf Arab producers will markedly increase their own production, and Russia has limited ability to do so quickly....