OPEC, allies agree to extend deep output cuts through July

AFP , Saturday 6 Jun 2020

OPEC members led by Saudi Arabia and other key oil producers agreed Saturday to extend historic output cuts through July, according to the United Arab Emirates Oil Minister Anwar Gargash.

The 13-member cartel and its allies decided to extend by a month deep cuts, first agreed in April for May and June, to boost prices hit hard by the new coronavirus pandemic, Gargash said on Twitter.

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