OPEC+ Debates Biggest Ever Oil Output Cut as Virus Destroys Demand

OPEC and allies are working on a deal for an unprecedented production cut equivalent to around 10% of global supply, an OPEC source said after U.S. President Donald Trump called on oil nations to stop the oil rout caused by the coronavirus pandemic.

The meeting of OPEC and allies such as Russia has been scheduled for Monday, April 6, Azeri’s energy ministry said, but details were still thin on the exact distribution of production cuts.

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