Daily News: Opec + cut output by a fifth in May, with 85 percent of the total cut
Pub Date:Jun 23,2020 | Views:422 |
Opec + cut output by a fifth in May, with 85 percent of the total cut
China Petrochemical News, June 19, 2020 - Opec + slashed its crude output by nearly a fifth in May, according to the latest Platts survey of Opec + production.
The survey found that Opec's 13 members cut output in May to 24.32 million barrels a day, 82 percent of the required cut. Russia and nine other partners did better in May, producing a combined average of 13.89 million barrels a day, or 91 percent less, according to Platts' calculations, bringing the overall Opec + agreement to 85 percent compliance.
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