Why Mexico is the winner in OPEC+ deal, Rystad explains

Following a historic OPEC+ deal to reduce global oil output in an effort to save the oil industry, Mexico came out as an unlikely winner since it was able to negotiate a production cut of only 100,000 barrels per day. Rystad Energy estimates that this will in effect be at a 50,000 bpd reduction at most.

The elephants in the digital room had reached a compromise. Russia had agreed, Saudi Arabia too, and with them, almost all of the other oil producers of the OPEC+ alliance were ready to seal a deal that would translate into the largest-ever agreement by the group to reduce its oil output.

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