the U.S. will help Mexico to reduce oil production by assuming some of its liabilities. We are talking about 250-300 thousand barrels per day (b/c), said Friday the President of the United States Donald trump
The White House / YouTube With Mexico should be too late to recover this service. Trump admitted that it can be done “in another form”, without specifying in what
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the U.S. will help Mexico to reduce oil production by assuming some of its liabilities. We are talking about 250-300 thousand barrels per day (b/c), said Friday the President of the United States Donald trump.
At the same time Mexico must be too late to recover this service. Trump admitted that it can be done “in another form”, without specifying what it is reported “Interfax”.
“This is a great deal for Mexico, but a very small amount for US… PoEI agreed to pick up the “surplus” itself…. And they’ll make it up to us later, maybe in a different form,” explained trump.Earlier the US President declared the consent of Mexico to cut oil production by 100 thousand b/c.
Answering the question of whether to reduce now the United States production of oil, trump said the United States has already reduced production pressure on the market situation.
the US President added that if the Mexican government did not concessions, they would sell oil at 5-10 dollars per barrel.
In the night from Thursday to Friday, OPEC+ agreed on a deal to reduce oil production, provided that it will join Mexico, which failed to convince during the 11-hour meeting of the Alliance. As part of the deal with Mexico the total reduction will amount to 350 thousand barrels per day. On the eve of the decision of OPEC+ was postponed to Friday because of the position of this country.
President of Mexico said that the deal on the oil production decline followed a telephone conversation with trump.
According to Reuters, the OPEC members+ pre-agreed that during may and June production will be reduced by 10 million barrels a day from 1 July to 8 million barrels per day, and from 1 January next year and April 2022 and 6 million barrels per day. The terms of the transaction arranged for all countries except Mexico, which has opposed the reduction of its own production by 400 thousand barrels per day.
the Next OPEC meeting+ scheduled for 10 June in the webinar format to determine further actions needed to balance the market. OPEC+ is also confirmed and extended the mandate of the Ministerial monitoring Committee (JMMC) and its members.
Analysts say that even a reduction of 20 million barrels is not sufficient to hold oil prices as world oil demand declined by 30% (30 million barrels per day). And in the US demand for gasoline fell by 48%, to 5.1 million barrels per day for three weeks until 3 April.
