OPEC and its oil producing allies finalized an agreement to cut production by 9.7 million barrels per day — the single largest output cut in history.
The group, known as OPEC+, initially proposed cutting production by 10 million bpd, but Mexico opposed the amount it was being asked to cut.
Under OPEC+’s new agreement, Mexico will cut 100,000 bpd instead of the 400,000 it had initially been asked to cut.
The group, known as OPEC+, initially proposed cutting production by 10 million bpd, but Mexico opposed the amount it was being asked to cut.
Under OPEC+’s new agreement, Mexico will cut 100,000 bpd instead of the 400,000 it had initially been asked to cut.