Opec and partners agree to 500,000 barrel per day production cut | Malay Mail

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VIENNA, Dec 5 — The Opec group of oil producing countries and their allies — including Russia — agreed today to a production cut of 500,000 barrels per day in addition to their current agreement. Ministers gathered at Opec headquarters in Vienna “decided for an additional adjustment of 500...

The logo of Opec is seen at its headquarters in Vienna March 21, 2016. — Reuters pic

Ministers gathered at Opec headquarters in Vienna “decided for an additional adjustment of 500 ”, effective as of 1 January 2020, according to a statement issued after the meeting.However, the group said that “in addition, several participating countries, mainly Saudi Arabia, will continue their additional voluntary contributions,” meaning the overall production cut would be 2.1 million barrels per day.

 

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