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"OPEC +" announces reducing production by 10 million barrels per day from May for two months

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"OPEC +" announces reducing production by 10 million barrels per day from May for two months Empty "OPEC +" announces reducing production by 10 million barrels per day from May for two months

Post by rocky on Fri 10 Apr 2020, 1:55 am

"OPEC +" announces reducing production by 10 million barrels per day from May for two months

"OPEC +" announces reducing production by 10 million barrels per day from May for two months 1020962717-0-421-3500-2314-1000x541-80-0-0-f9193aa90b2b5cef1f565d244a74d183
  
{International: Al Furat News} In a statement issued on Thursday, the OPEC + Alliance confirmed that oil production had been reduced by 10 million barrels per day as of May 1, 2020, and for an initial period of two months.
A source said, according to "Reuters", that the "OPEC +" coalition will cut 10 million barrels per day, while other producing countries will reduce about 5 million barrels per day.
He added, that the alliance agreed in principle to cuts of 10 million barrels per day in May and June this year.
The agency quoted other sources as saying that the "OPEC +" group is considering production cuts that will extend for at least two years, in order to support global energy markets.
The source of "OPEC" indicated that Russia and Saudi Arabia will reduce 23% from the base level of 11 million barrels per day.
The group had said earlier that it wanted the United States, one of the three largest oil producers in the world, to participate in the Russia and Saudi Arabia agreement to reduce production. is over
Mohammed Al-Marsoumi


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