Reuters MEXICO CITY – President Donald Trump has “generously” agreed to cut American oil output by an additional 250,000 barrels per day to help Mexico contribute to global reductions, his Mexican counterpart said on Friday. During marathon talks on Thursday inside the OPEC+ group, oil producers resolved to make cuts equivalent to around 10% of global supplies, but Mexico balked
Reuters WASHINGTON – U.S. Energy Secretary Dan Brouillette on Friday described a dire situation in global energy markets, saying that the coronavirus pandemic and massive oil surplus have created a lethal combination. “This is a time for all nations to seriously examine what each can do to correct the supply/demand imbalance,” Brouillette said in prepared remarks for Friday’s G20 meeting
From Bloomberg Energy Ministry is discussing the pact with companies: Novak, Kazakhstan, Azerbaijan back extending the deal in second half Russia is sticking to its wait-and-see approach on the future of the OPEC+ deal, while its neighbors Kazakhstan and Azerbaijan favor an extension of oil-production cuts due to expire this month. “We need to wait until the G-20 leaders’ meeting”
Status Bump: China’s renminbi joins the dollar, euro, pound and yen as an IMF reserve currency The International Monetary Fund (IMF) announced Monday that the international lender will include the Chinese renminbi, or yuan, in its basket of currencies that make up the Special Drawing Right (SDR), it said in a release. The IMF’s decision will be effective as of
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