Trump says OPEC+ wants to cut 20 million bpd

Published: Updated:
Read Mode
100% Font Size
1 min read

US President Donald Trump said on Monday the OPEC+ group of oil producers is looking to cut output by 20 million barrels per day, double the 10 million barrels agreed to a day earlier.

“Having been involved in the negotiations, to put it mildly, the number that OPEC+ is looking to cut is 20 Million Barrels a day, not the 10 Million that is generally being reported,” Trump said on Twitter.

The group, comprising the Organization of the Petroleum Exporting Countries, Russia and other countries, said Sunday it had agreed to reduce output by 9.7 million barrels per day (bpd) for May and June, after four days of talks and following pressure from Trump to arrest the price decline.

Read more:

Global oil supply cut equals over 19 mln barrels per day: Saudi Energy Minister

OPEC oil exporters seal historic output cut as coronavirus slams demand

Saudi Arabia cuts May crude prices to Asia by $4.2 per barrel: Document

Top Content Trending