opec+-agrees-largest-ever-oil-output-cut-of-9.7-million-bpd:-sources

OPEC+ agrees largest ever oil output cut of 9.7 million bpd: sources

Business

LONDON (Reuters) – 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.

The group, known as OPEC+, agreed to reduce output by 9.7 million barrels per day for May-June after a compromise with Mexico, two OPEC+ sources said.

Reporting by OPEC Newsroom; Writing by Dmitry Zhdannikov; Editing by Alison Williams