Russia, Saudi Arabia, and the United States will lead the international OPEC++ Alliance

Russia, Saudi Arabia, and the United States have agreed to lead the multinational OPEC++ coalition.

According to Dow Jones, the agreement to reduce oil production was concluded after US President Donald Trump intervened in the conflict between Saudi Arabia and Mexico, which threatened the deal.

Earlier it became known that the OPEC+ countries agreed on a teleconference on Sunday to limit collectively oil production in May-June by 9.7 million barrels per day, and in July-December – by 8 million barrels.

From January next year to April 2022, it is planned to reduce by 6 million barrels per day.

At the same time, Mexico will reduce production in May and June by only 100 thousand b/s. The US promised to take on the remaining 300,000 barrels of cuts imposed on the Republic.
Earlier, OPEC+ countries could not conclude a deal because of Mexico’s disagreement to reduce oil production by 400 thousand barrels per day.

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