An American appeal to Saudi Arabia to reduce oil production
The calls of the American representatives came as international parties tried to secure the agreement of the "OPEC +" coalition on the largest reduction in oil production, in order to stabilize crude markets and prices around the world.
The organization reached, on Friday, an agreement to reduce crude production by 10 million barrels per day, from May to the end of June 2020.
But a meeting of energy ministers in the Group of Twenty countries later failed to agree to cut production.
However, the ministers pledged, in a joint statement, to take all necessary measures to ensure a balance of interests between oil producers and consumers, energy system security and energy flows without hindrance.
Oil prices fell to their lowest level in 18 years after the Corona virus closed economies worldwide, after Saudi Arabia and Russia, two of the largest producers in the world, increased their production in a race for a market share. / End 3[/rtl]