OPEC and its allies were close to abandoning any plans for an emergency meeting this month to consider fresh production cutbacks as the coronavirus batters oil demand in China. While Saudi Arabia hasn’t wholly given up on its push for the gathering, the OPEC+ alliance will more likely stick to a scheduled meeting in March as the idea hasn’t so far won over Russia, several delegates from the group said. The Saudis had been pushing for the emergency meeting as the toll on oil demand from the global epidemic already appears to be severe. World oil consumption will decline this quarter for the first time in more than a ... (full story)