UPDATE 8-OPEC+ to ease oil curbs from May after U S calls Saudi thesundaily.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thesundaily.my Daily Mail and Mail on Sunday newspapers.
OPEC+ has agreed to gradually ease its oil output cuts from May, after the new US administration called on Saudi Arabia to keep energy affordable for consumers.
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LONDON/DUBAI/MOSCOW (Reuters) - OPEC+ agreed on Thursday to gradually ease its oil output cuts from May, after the new U.S. administration called on Saudi Arabia to keep energy affordable, mirroring Donald Trump’s practice of calling OPEC’s leader over oil policy.
FILE PHOTO: A 3D printed oil pump jack is seen in front of displayed OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/Illustration/File Photo
The group, which has implemented deep cuts since a pandemic-induced oil price collapse in 2020, agreed to ease production curbs by 350,000 barrels per day (bpd) in May, another 350,000 bpd in June and further 400,000 bpd or so in July.
OPEC+ agrees oil output rise from May, after US call to Saudi
Reuters
LONDON/DUBAI/MOSCOW |
Updated on
April 02, 2021
× OPEC+ agreed on Thursday to gradually ease its oil output cuts from May, after the new US administration called on Saudi Arabia to keep energy affordable, mirroring Donald Trump s practice of calling OPEC s leader over oil policy.
The group, which has been implementing deep cuts since oil prices collapsed in 2020, agreed to ease production cuts by 350,000 barrels per day (bpd) in May, another 350,000 bpd in June and further 400,000 bpd or so in July.
Iran s oil minister, Bijan Zanganeh, confirmed the figures,saying the group would have boosted output by a total of 1.1million bpd by July.
OPEC+ To Ease Output Cuts From May marinelink.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marinelink.com Daily Mail and Mail on Sunday newspapers.