OPEC+ Discusses Reducing August Oil Production Cut, No Consensus Yet - Source

MOSCOW (Pakistan Point News / Sputnik - 13th July, 2020) Saudi Arabia conducts negotiations within the OPEC+ on the possibility to downplay the oil production cut in August to 7.7 million barrels per day, but consensus is yet to be reached, a source in a delegation told Sputnik on Monday.

"Saudi Arabia has been in contact with some OPEC+ members on boosting oil production in August. Negotiations are underway, there is no general consensus yet. But ... the OPEC+ is quite likely to decide to reduce the daily production cut by 2 million barrels in August to 7.7 million," the source said.