OPEC+ draft statement says the expected total global oil production cuts are effective from May 1 will amount to over 20 million barrels per day
That 20m bpd figure is the effective total cut between OPEC plus and the G20 along with buying from the IEA.
More:
- Cuts begin in May
- for two months
- diminish in size after
- expiring in April 2022
Earlier:
- OPEC+ oil output cut deal agreed Sunday
- Here are the main points so far of the OPEC+ agreement to cut oil output (and the 3 things they missed)
Saudi Arabia says the effective OPEC+ cuts I in the order of 12.5m bpd,
