OPEC and allies agree to historic 10 million barrel per day production cut

OPEC and allies agree to historic 10 million barrel per day production cut

The Organization of the Petroleum Exporting Countries plus (Opec+) combine, agreed on late Thursday night for a production cut of 10 million barrels per day (mbpd), in order to stem the plunge in crude prices as the coronavirus pandemic saps demand for crude. During a video conference, Saudi Arabia agreed to slash 4mbpd from its April production levels, while Russia agreed to cut by 2mbpd.

KCooper
KCooper
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