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KING FELIX
The way for a reduction in oil production by OPEC and its partners is free. In a special session on Sunday, the oil-producing countries agreed to a cut of 9.7 million barrels per day during the months of May and June. A barrel is 159 liters of oil.
Mexican energy minister Rocio Nahle wrote this on Twitter after the special video session. Kazakhstan’s energy ministry also confirmed the deal, according to Russian agencies.
The amount is around 300,000 barrels per day below the original destination decided on Friday. Mexico had refused to contribute the 400,000 barrels required to the end and held on to its offer to remove 100,000 barrels from production.
With the cut, Opec + wants to stabilize the price of oil, which has just fallen rapidly due to the crisis in the crown. It is still unclear whether the decision will again raise the price of gasoline at service stations. (SDA)
