mo4ch:>Oil slips 6% after OPEC+ meeting delay as Trump vows ‘very substantial tariffs’ if Saudis & Russia fail to reach output cut deal | Mo4ch News

US President Donald Trump has promised to impose “very substantial tariffs” on imported oil, unless Saudi Arabia and Russia reach a deal to push crude prices up, just as oil skidded again following last week’s rally.Both Brent and WTI crude futures dived over 9 per cent at the Asian session opening, before bouncing back to around $32.6 and $26.6 a barrel respectively. The drop comes after the Organization of the Petroleum Exporting Countries (OPEC) and non-member partners abruptly delayed their emergency meeting until Thursday, apparently due to standing disagreements between Saudi Arabia and Russia.Crude soared last week following Trump’s announcement of an imminent OPEC+ deal to cut global oil production by 10 or even 15 million barrels.However, Russian President Vladimir Putin’s statement that he expects all oil producers to cooperate on an equal basis had cast doubt on the prospects of a deal. At the same time, he casually noted that Saudi Arabia’s withdrawal from the agreement wa…