The 177th OPEC and non-OPEC Ministerial Meeting concludes

Find out what Ministers from OPEC and Non-OPEC countries decided to do with production cuts in 2020. The new agreement will see a further 500 mln barrels taken off the market from January 1st 2020 to March 2020. Saudi Arabia’s Energy Minister Prince Abdulaziz Bin Salman added that Saudi Arabia would extend a voluntary cut of 400,000 bpd, which brings the total to 2.1 mln barrels to be taken off the market in the first quarter of 2020.