OPEC and its allies extend cuts of 9.7 mil. barrels/day through July
- 4 years ago
OPEC+, 하루 970만배럴 감산 7월까지 한달 더 연장
OPEC and its allies have agreed to extend their oil production cuts through July, hoping to provide some stability to the market.
These are cuts of 9-point-7 million barrels a day, their biggest ever.
OPEC and its allies met Saturday by video conference, the only dissenter from the agreement being Mexico.
Other countries that had so far not complied with the cuts said they were now on board and would make additional cuts to compensate for their excess production in May and June.
Iraq was one that said it would comply.
Last week, the U.S. benchmark West Texas crude rose to 39 dollars a barrel.
OPEC and its allies have agreed to extend their oil production cuts through July, hoping to provide some stability to the market.
These are cuts of 9-point-7 million barrels a day, their biggest ever.
OPEC and its allies met Saturday by video conference, the only dissenter from the agreement being Mexico.
Other countries that had so far not complied with the cuts said they were now on board and would make additional cuts to compensate for their excess production in May and June.
Iraq was one that said it would comply.
Last week, the U.S. benchmark West Texas crude rose to 39 dollars a barrel.