OPEC & allies agree to cut global oil production by 10 million barrels per day after Mexico joins deal

10 Apr, 2020 12:37 / Updated 1 minute ago

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The Organization of the Petroleum Exporting Countries (OPEC) anallied oil producers have reportedly reached an output cuts deal after Mexico agreed to reduce its production by 100,000 barrels a day.

The deal was reached after Mexican President Andres Manuel Lopez Obrador spoke with US President Donald Trump, according to reports. 

The Mexican leader reportedly said that his country will cut crude production by 100,000 barrels per day - four times less than OPEC had asked for. He added the production cut was coordinated with the United States, which will make an additional 250,000 barrels daily cut in output for Mexico.

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