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OPEC+ agrees largest ever oil output cut of 9.7 mln bpd (Reuters)
OPEC+ agrees largest ever oil output cut of 9.7 mln bpd (Reuters)
Last Modified: 05:52 PM, Sun Apr 12, 2020
12 April 2020
LONDON (Reuters) - OPEC, Russia and other oil producing nations agreed on Sunday to cut output by a record amount, representing around 10% of global supply, to support oil prices amid the coronavirus pandemic, sources said.
The group, known as OPEC+, agreed to reduce output by 9.7 million barrels per day for May-June after a compromise with Mexico, two OPEC+ sources said.
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Creditline: Reuters
Slugline: GLOBAL-OIL/OPEC-DEAL (URGENT)
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