OPEC+ agrees to cut production by 10 million barrels per day in May and June
- 4 years ago
"OPEC+, 5월부터 두달간 하루 1천만 배럴 원유 감산"
OPEC and several other major oil producers including Russia agreed to a historic production cut of 10 million barrels a day for two months from May.
The drastic move comes as the coronavirus pandemic saps demand for crude oil,... with almost the entire world not flying or driving.
With the decision,... the group will cut daily production by 10 million barrels in May and June, 8 million barrels from July through the end of the year,... and 6 million barrels from January 2021 through April 2022.
Despite the record cut,... oil prices moved lower on Thursday as investors worried it would still not be enough to level out the drop in demand.
OPEC and several other major oil producers including Russia agreed to a historic production cut of 10 million barrels a day for two months from May.
The drastic move comes as the coronavirus pandemic saps demand for crude oil,... with almost the entire world not flying or driving.
With the decision,... the group will cut daily production by 10 million barrels in May and June, 8 million barrels from July through the end of the year,... and 6 million barrels from January 2021 through April 2022.
Despite the record cut,... oil prices moved lower on Thursday as investors worried it would still not be enough to level out the drop in demand.