OPEC+ agrees to cut oil production by 9.7 mln. Bpd

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# 21:49
12 April 2020

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.

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THE OPERATION IS BEING PERFORMED