Kuwait says its effective oil cut is above 1 million bpd: oil minister
Kuwait’s oil minister said on Sunday that his country would be cutting more than 1 million barrels per day in actual oil supply, taking into consideration its current April production of around 3.25 million bpd.
EU’s Vestager says EU nations should buy stakes to block Chinese takeovers: FT
The European Union’s competition chief told the Financial Times that member countries should buy stakes in companies to counter the threat of Chinese takeovers, with her comments coming as the EU formulates plans to protect its businesses amid the coro…
UAE committed to reducing oil production from its current 4.1 million bpd: Energy minister
The United Arab Emirates is committed to reducing oil production from its current level of 4.1 million barrels per day (MBOPD), energy minister Suhail Al Mazrouei said in a tweet on Sunday.
Kremlin says leaders of Russia, U.S., Saudi Arabia support OPEC+ oil deal
Russian President Vladimir Putin, U.S. President Donald Trump and Saudi Arabia’s King Salman all supported the OPEC+ deal to cut global crude output, the Kremlin said on Sunday.
OPEC, Russia approve biggest-ever oil cut amid coronavirus pandemic
OPEC and allies led by Russia agreed on Sunday to a record cut in output to prop up oil prices amid the coronavirus pandemic and said they had an unprecedented deal with fellow oil nations, including the United States, to curb global oil supply by 20%….
Mexico’s energy minister says oil producers agreed to cut output by 9.7 mln bpd from May
Mexico’s Energy Minister Rocio Nahle said on Sunday oil producers unanimously agreed to cut output by 9.7 million barrels per day from May at OPEC+ talks and thanked OPEC members for their support in reaching the deal.
OPEC+ agrees largest ever oil output cut of 9.7 million bpd: sources
OPEC, Russia and other oil producing nations agreed on Sunday to cut output by a record amount, representing around 10% of global supply, to support oil prices amid the coronavirus pandemic, sources said.
Kazakhstan confirms global deal to cut oil output by 9.7 million bpd
Kazakhastan’s Energy Ministry said on Sunday it confirmed reports that the OPEC+ group of countries had agreed to cut the global oil output by 9.7 million barrels per day for two months starting on May 1.
Smithfield shutting U.S. pork plant indefinitely, warns of meat shortages during pandemic
Smithfield Foods, the world’s biggest pork processor, said on Sunday it will shut a U.S. plant indefinitely due to a rash of coronavirus cases among employees and warned the country was moving “perilously close to the edge” in supplies for grocers.
OPEC, Russia meet again to approve biggest ever oil cut
OPEC, Russia and other oil producing nations were meeting on Sunday in a bid to clinch a deal on the biggest oil cut ever, amounting to 10 percent of global supply, after their initial efforts to support oil prices amid the coronavirus pandemic were bl…
