OPEC+ debates biggest-ever oil cut as Covid-19 pandemic crushes demand

Topics OPEC | Opec oil cuts | Coronavirus

OPEC and its allies are working on a deal for an unprecedented oil production cut equivalent to around 10 per cent of worldwide supply in what they expect will be a global effort including the United States, but the White House did not make such a commitment after a Friday meeting with oil companies.

While US President Donald Trump pledged help for the industry at the meeting, he made no commitment to take the extraordinary step of persuading US companies to cut output. In a subsequent phone conference, US Energy Secretary Dan Brouillette.....

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