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Global deal to cut oil production in sight after Mexico signs up

Even more countries, including the US, were discussing Friday their own cuts in what would be an unprecedented global pact to stabilise the market.

India stands to lose 3,00,000 bpd of crude oil supply from Iran, and 4,00,000 bpd from Venezuela

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Mexico had initially blocked the deal but its president, Andres Manuel Lopez Obrador, said Friday that he had agreed with US President Donald Trump that the US will compensate what Mexico cannot add to the proposed cuts

AP | PTI

5 min read Last Updated : Apr 10 2020 | 8:12 PM IST

The OPEC oil cartel and nations, including Russia, have agreed to boost oil prices by cutting as much as 10 million barrels a day in production.

Even more countries, including the US, were discussing Friday their own cuts in what would be an unprecedented global pact to stabilise the market.

The agreement between

Topics : OPEC output Oil policy

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