Mexico says ready to cut oil output by 100,000 bdp, US to cut more

MOSCOW, Apr 10 (PRIME) -- Mexico has agreed to cut oil output by 100,000 barrels per day and coordinated the decision with the U.S. which will additionally cut its output by 250,000 barrels per day out of the 350,000 barrels per day quota proposed for Mexico earlier by the new OPEC+ deal, Mexican President Andres Manuel Lopez Obrador said in a statement released on his Twitter page on Friday.

“I have talked to President Trump, and we have agreed that oil production (in Mexico) should be reduced by 100,000 barrels per day. The U.S. promised to cut its output by additional 250,000 barrels per day to help Mexico,” Obrador said.

Two sources close to negotiations told PRIME that energy ministers of the G20 states have started an online meeting devoted to stabilization of the global oil market amid the spread of coronavirus.

Some of the states including Russia, Saudi Arabia and Mexico, participated in Thursday’s meeting of OPEC and non-OPEC states on stabilization of the oil market.

End