OPEC and Russia will probably begin to soften the terms of oil deals since August — sources
LONDON (Reuters) – Russia and OPEC since August, is likely to soften a record decline in oil production against the background of recovery in global demand and prices, reported Reuters four sources OPEC+.
The group OPEC agree to cut production to 9.7 million barrels per day, or 10% of global demand, in may and June, and then to extend the record limit up to the end of July.
According to sources, while no discussions about extending the current terms of the transaction in August is not. This means that since August, the reduction is likely to be 7.7 million barrels per day.
(Team OPEC. Translated By Marina Bobrova. Edited By Anastasia Teterevleva)