4/10, 2:25 PM (Source: TeleTrader)
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Mexico reaches oil output cut deal with US, OPEC+

Mexico's President Andres Manuel Lopez Obrador announced on Friday his country has reached an agreement on oil output cut with the United States and OPEC+ alliance.

Mexico agreed to cut oil production by 100,000 barrels per day, while the US committed to making an additional cut of 250,000 barrels a day.

Recently, OPEC+ reached a deal to cut oil output by 10 million barrels per day from May 1 to stabilize the oil markets, saying the agreement highly depends on Mexico's commitment.

Breaking the News / ND