#Opec+ promises record global #oil cuts of nearly 10MM bopd, 10% of production #OOTT

Opec said it would cut 9.7m barrels a day in oil production in May and June, equivalent to almost 10 per cent of global supply, and continue with lower reductions until April 2022, in an effort to stabilise global crude markets.

It is not yet clear whether the deal will be enough to support the oil market.

See The Whole Story Here: https://www.ft.com/content/01dd5ae4-16b9-4c20-becc-6a08c6289a67

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