economy
The major oil-producing countries are apparently heading for an extension of their crisis-related production cuts until the end of July. This emerges from the draft for a declaration by the so-called OPEC + group of states on Saturday. According to this, the countries that did not comply with the April and June reductions agreed to compensate for this with additional cuts from July to September.
The Organization of Oil-producing States (OPEC) and the other countries, including Russia, agreed in April to cut oil supplies by 9.7 million barrels a day. The reason was the slump in oil prices in the wake of the corona crisis. The agreement previously applies to May and June and is now to be extended.
Source: Apa / Ag.
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Accessed on 06.06.2020 at 05:10 on https://www.sn.at/wirtschaft/oesterreich/opec-und-russland-wollen-oelproduktion-weiter-kuerzen-88553215
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