OPEC + countries agree to extend record production cuts until late July
The relevant OPEC + ministers approved the extension of the current deal to reduce oil production until the end of July, as earlier today in the OPEC resolution, but without Mexico, TASS cites the source participating in the negotiations.
Thus, the total quota should amount to 9.7 mln barrels per day, but the figure will not be specified in the communiqué, he added.
These data were also confirmed by the head of the UAE's Ministry of Energy Suhail Al Mazroui. He wrote on Twitter that the decision includes a clause that countries that have not complied with the agreement are required to do so in the coming months.