Moscow suggests OPEC+ to tackle demand dip, Saudi says no talks on new deal

Trump last week said he would get involved in the oil price war between Saudi Arabia and Russia at the appropriate time

Saudi Arabia said on Friday it was not in talks with Russia to balance oil markets despite rising pressure from Washington to stop a price rout amid the coronavirus pandemic and an attempt by Moscow to fix a rift with the de facto OPEC leader.

A three-year supply pact between the Organization of the Petroleum Exporting Countries (OPEC) and other producers, including Russia, fell apart this month after Moscow refused to support Riyadh's plan for deeper production cuts, prompting Saudi Arabia to pledge to raise output to a record high.

The resulting supply boost has coincided with plummeting demand as governments around