the countries—participants of the OPEC+ have until may 1 to negotiate with Mexico to reduce oil production, reported “Interfax” Advisor of the Minister of energy of Azerbaijan, Zamina Aliyeva. Yesterday at a meeting of OPEC countries failed to agree on reducing oil production to 10 million barrels per day due of Mexico.
“this New Declaration on cooperation signed following the videoconference OPEC+ 9 April, will take effect from may 1, 2020. So the parties to the transaction according to the new reduction in oil production is the time to negotiate with Mexico for its accession to that agreement,” said Mrs. Aliyeva.
As explained Zamin Aliyev, the new Declaration also joined Brazil and Canada. The negotiations themselves lasted 11 hours.
Recall that a month earlier OPEC+ are unable to agree on a joint reduction in oil production. On the background of the pandemic virus COVID-19 oil prices fell to twenty-year lows. Yesterday, April 9, took place a new meeting of the OPEC+ stabilization of the oil market. Russia and Saudi Arabia, the leaders of the group of OPEC countries+ now negotiate about the unprecedented production cuts in the amount of 10% of the world production of oil. The talks will continue today, April 10.
