WASHINGTON (Pakistan Point News / Sputnik - 11th April, 2020) US President Donald Trump said on Friday that the United States would cut oil production to make up difference for Mexico and the country would reimburse later.
"It's a small amount for us, it's a large amount for Mexico, but it's a very small amount for the United States being the biggest producer, so we agreed to pick up some of the slack of the amount for Mexico," Trump said in a press briefing. "So, Mexico is going to reduce by 100,000 barrels and that would mean that they are 250-300 barrels short, we'd make up the difference, they would reimburse us at a later date."
OPEC+ countries conducted online talks for ten hours through the night and later announced that a declaration of cooperation had been adopted by all member states apart from Mexico. The deal, which commits OPEC+ countries to collectively reduce crude oil output by 10 mbd beginning in May will only become binding if Mexico signs the agreement.
