The Organization of the Petroleum Exporting Countries (OPEC) and its allies have agreed to reduce crude oil production by 10 million barrels a day until early June to counter the slump in demand caused by the coronavirus pandemic sweeping the world.
A tussle for market share that started in early March resulted in a surplus that was exacerbated by the pandemic, battering prices further.
Al Jazeera’s Osama Bin Javaid reports.
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OPEC+ agrees to 10 million bpd oil cut for May and June
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