OPEC+ agreed to keep the obligations to cut oil production by 9.7 million barrels per day until the end of July, a draft communique of Saturday's meeting, obtained by Sputnik, said
MOSCOW (Pakistan Point News / Sputnik - 06th June, 2020) OPEC+ agreed to keep the obligations to cut oil production by 9.7 million barrels per day until the end of July, a draft communique of Saturday's meeting, obtained by Sputnik, said.
"Extending the first phase of the supply adjustments in May and June 2020 by one month, until the end of July 2020," the draft communique read.
The document also calls on "all major oil producers to proportionally contribute to the stabilization" of the market amid efforts made by OPEC and OPEC+.
According to the draft communique, further extensions of the current agreement to cut production by 9.7 million barrels per day depended on all countries that are part of the deal catching up and fully adhering to their obligations.
