UPDATE 6-Saudi, Russia pre-OPEC talks yield no oil output cut

martes 25 de noviembre de 2014 13:49 GYT

* Saudi, Russia, Venezuela, Mexico fall short of agreement

* Oil drops more than $1 after 4-country shuttle diplomacy

* Crude prices down about 30 percent since June

* OPEC meets in Vienna on Thursday, many budgets underwater (Adds Sechin comments)

By Alex Lawler and Rania El Gamal

VIENNA, Nov 25 (Reuters) - Impromptu talks between Saudi Arabia, fellow OPEC member Venezuela and oil powers Russia and Mexico yielded no agreement on Tuesday on how to address a growing oil glut, ending without any plan to cut output despite a collapse in prices.

In a day of shuttle diplomacy before OPEC's output meeting in Vienna on Thursday, energy officials from non-members Russia and Mexico rushed to the Austrian capital to push OPEC kingpin Saudi Arabia on the 30 percent price fall since June.

Saudi has kept the market guessing about its response to crude's fall amid rapidly rising U.S. shale output, but Tuesday's talks had led to speculation in some quarters that Riyadh might back a coordinated cut involving non-OPEC members.

Venezuelan Foreign Minister Rafael Ramirez told reporters after the talks that while all sides agreed current prices were "not good" for producing countries, no coordinated output cuts were arranged on Tuesday.   Continuación...