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Recently, OPEC and allies agreed to a record cut in output to prop up oil prices amid the COVID-19 outbreak and the ongoing Saudi-led offensive on the oil market. The group, known as OPEC+, said it had agreed to reduce output by 9.7 million barrels per day (bpd) for May and June.
The numbers below provide a closer look at the deal:
IMAGE: marketscreener.com
IMAGE: marketscreener.com
IMAGE: marketscreener.com
MORE ON THE TOPIC:
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- OPEC’s Stillborn Deal And COVID-19’s Overestimations
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