Mexico Intends To Pull Out Of Oil Production Cuts Deal By July - Source

Mexico Intends to Pull Out of Oil Production Cuts Deal by July - Source

Mexico decided to leave the OPEC+ oil production cut deal by the beginning of July, and the agreement now envisions cutting the output by 9.6 million barrels per day instead of 9.7 million, an OPEC source told Sputnik on Saturday

MOSCOW (Pakistan Point News / Sputnik - 06th June, 2020) Mexico decided to leave the OPEC+ oil production cut deal by the beginning of July, and the agreement now envisions cutting the output by 9.6 million barrels per day instead of 9.7 million, an OPEC source told Sputnik on Saturday.

"Mexico said that it ends the deal in June," the source said.

The OPEC+ deal now envisions cutting oil production by 9.6 million barrels per day in July as Mexico's quota was 100,000 barrels.

"[Production cut] of 9.6 million for 1 month," the source said.