Mexico's energy minister said Sunday on Twitter that the group of nations agreed to cut 9.7 million barrels a day cut to begin May 1. Kuwait Oil Minister Khaled al-Fadhel tweeted similar information Sunday.
Iran's oil ministry also tweeted confirming the 9.7 million cut for May and June. It said the so-called OPEC+ countries agree to have Mexico reduce its output by 100,000 barrels only for those two months. That had been a sticking point for the accord meant to boost global energy prices.The agreement would be an unprecedented global pact to stabilize the market.
Mexico had initially blocked the deal but its president, Andres Manuel Lopez Obrador, had said Friday that he had agreed with U.S. President Donald Trump that the U.S. will compensate what Mexico cannot add to the proposed cuts. "The United States will help Mexico along and they'll reimburse us sometime at later date when they're prepared to do so," Trump said at a White House press briefing Friday.
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Why pass the buck onto Google Dax? You’re the one that started flapping about jumping ship for the sake of long term stability. Educate us dummies if you will.
Intriguing tweet, too bad the attached video is (as usual) on another topic, so the tweet is ridiculous! is so BAD at matching its tweets to its videos, we're not following any longer. Pathetic organization.
Oil is too unstable to base an economy on. Time to jump ship. We need long term stability.
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