Oil hovered around $50 a barrel in New York on signs a much-touted emergency meeting of OPEC+ ministers probably won’t happen after all. (Bloomberg) — Oil hovered around $50 a barrel in New York on signs a much-touted emergency meeting of OPEC+ ministers probably won’t happen after all. Ministers from the group and its allies are unlikely to hold an early meeting this month, while one planned for March will go ahead, Azerbaijan Energy Minister Parviz Shahbazov told the RIA Novosti newswire. Russia has been resisting Saudi Arabian efforts to reduce output after OPEC+ technical experts recommended an additional cut of 600,000 barrels a day through June. Crude has tumbled as the virus wreaked havoc on the economy of the world’s biggest oil importer, with Chinese refineries cutting the amount they’re processing by around 15%. Prices could come under further pressure if talks aimed at ending the conflict in […]