OPEC + announces “historic” oil agreement
Countries of the “OPEC +” group reached an agreement described as “historic” to reduce oil production to the level of 9.7 million barrels per day, in the largest reduction ever.
Kuwaiti Minister of Point, Khaled Al-Fadil, said through his official account on the website, “Twitter”, today, Sunday, after a new virtual meeting of the oil exporting countries: To reduce production by approximately 10 million barrels of oil per day from OPEC + members starting from May 1, 2020. ”
Meanwhile, Reuters quoted informed sources that the countries participating in the talks, members of “OPEC”, Russia and other oil-exporting countries, have overcome the dispute with Mexico and approved the largest reduction in oil production amounting to about 10% of the global supply.
The agency sources indicated that the “OPEC +” group agreed to reduce production to the level of 9.7 million barrels per day in May and June. Source