Economy OPEC: Oil: partial agreement to lower production - Economy

OPEC: Oil: partial agreement to lower production – Economy

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Oil producers gathered on Thursday agreed, with the exception of Mexico, on a reduction in May and June of world production to the tune of 10 million barrels per day, OPEC announced on Friday. The agreement, which also provides for the reduction to 8 million barrels a day from July to December, will require the Mexico City agreement to take effect, the oil cartel said in a statement after a long meeting by videoconference intended to find a solution to the sudden drop in crude oil prices. (dpa / nxp)

Created: 04/10/2010, 06:34 a.m.

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