OPEC+ has reached an agreement to cut oil output by 9.7 million barrels per day (bpd) in the months of May and June after reaching a compromise with Mexico, APA reports citing Reuters.
Major oil producers around the world (excepting the USA) agreed in principle to cut oil output by 23 percent each on Thursday following a videoconference meeting of OPEC+ and partners. The fate of the deal remained uncertain, however, owing to Mexico's resistance to making cuts.