OPEC+ agrees to record oil-production cut
The world’s largest oil producers have agreed to slash production amid plummeting demand.
Demand for oil has plummeted amid the coronavirus crisis – and with it the price per barrel.
In response, the Organization of the Petroleum Exporting Countries, Russia and other oil-producing nations have reached a deal to reduce production by about 10 million barrels a day in May and June.
Published On 12 Apr 2020