Global deal in the works to pump less crude oil, stabilize market

Article Link: https://globalnews.ca/news/6803451/opec-oil-deal-crude-coronavirus/

Discussion posted by: Arye ben-Shaoul

Oil-producing countries including those of the OPEC cartel and Russia are trying to strike a global deal to pump less crude in a bid to limit a crash in prices that, while welcome for consumers, has been straining government budgets and pushed energy companies toward bankruptcy. Late Thursday OPEC and Russia reportedly had reached a tentative deal to cut production by 10 million barrels per day for two months. U.S. President Donald Trump said he spoke with Russian President Vladimir Putin and King Salman of Saudi Arabia about the negotiations.