Mexico to cut oil output by 100,000 bpd from May

Mexico to cut oil output by 100,000 bpd from May
  • Clock-gray 08:23
  • calendar-gray 13 April 2020

Mexico will reduce its oil output by 100,000 barrels per day (bpd) from May after top oil producers collectively agreed to cut production by 9.7 million barrels per day at OPEC+ talks, Mexican officials said on Sunday, APA reports quoting Reuters. 

Mexican Energy Minister Rocio Nahle said on Twitter the agreement to cut output by 9.7 million bpd had been reached unanimously in the OPEC+ group of countries, but she did not mention what Mexico’s share in the reduction would be. 

Mexico had previously pledged to cut output by 100,000 bpd, and two officials confirmed it was sticking to that target. 

The OPEC+ group had asked Mexico to decrease production by 400,000 bpd but President Andres Manuel Lopez Obrador’s unwillingness to meet that demand held up oil producers’ approval of the historic cuts.

apa-logo-mini

Other news