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Saudi Arabia has opened talks on advancing the March OPEC+ meeting to February to address the sharp drop in crude oil prices, Reuters reported on Thursday, citing four OPEC+ sources.

“No final decision over the new date of the meeting has been made, and not all OPEC members are on board yet, with Iran a possible contender to oppose the move, the OPEC+ sources said,” Reuters reported.

WTI stays in red

This headlines failed to help crude oil prices rebound. As of writing, the barrel of West Texas Intermediate was trading at $52.25, erasing 1.45% on a daily basis.