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2020-04-03 12:15:00

OPEC+ DISCUSSES REDUCTION

OPEC+ DISCUSSES REDUCTION

REUTERS - APRIL 3, 2020 - The OPEC+ crude oil exporter group is debating cutting global supply by 10 million barrels per day, an OPEC source said on Friday, adding any further cuts must include producers from outside the alliance.

U.S. President Donald Trump said on Thursday he had brokered a deal with top crude producers Russia and Saudi Arabia to cut output and arrest an oil price rout amid the global coronavirus pandemic, though details of how cuts would work were unclear.

While Russia and Saudi Arabia belong to the grouping of members of the Organization of the Petroleum Exporting Countries and its allies, the United States does not.

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