OPEC+ agrees to 10 million bpd oil cut for May and June

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The Organization of the Petroleum Exporting Countries (OPEC) and its allies have agreed to reduce crude oil production by 10 million barrels a day until early June to counter the slump in demand caused by the coronavirus pandemic sweeping the world.

A tussle for market share that started in early March resulted in a surplus that was exacerbated by the pandemic, battering prices further.

Al Jazeera’s Osama Bin Javaid reports.

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#OilPriceWar #OPEC #OilCuts


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