The OPEC group of oil producers will recommend a production cut of 1.5 million barrels per day to its allies, Iran's Energy Minister said Thursday, as it seeks counter the slump in demand caused by the COVID-19 outbreak.
"We decided... to recommend to the non-OPEC meeting tomorrow 1.5 million barrels of new cut for the second quarter of 2020," Bijan Namdar Zanganeh told reporters after an extraordinary meeting of OPEC ministers at the group's headquarters in Vienna.
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