OPEC, non-OPEC countries reach deal to cut crude output in 2019

OPEC, non-OPEC countries reach deal to cut crude output in 2019



Crude oil production will be cut by 1.2 million barrels per day from January 2019 for an initial period of six months.

The Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC oil producers made the agreement in Austria’s Vienna on Friday.

According to the agreement, OPEC member states contribute 0.8 million bpd output cut and non-OPEC oil pumpers including Russia contribute 0.4 million bpd output cut from the production of October level.

But details of the quota for each me…
READ MORE : http://www.africanews.com/2018/12/09/opec-non-opec-countries-reach-deal-to-cut-crude-output-in-2019

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