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Summary | 23 Annotations
historic deal to cut global petroleum output by nearly a 10th,
2020/04/12 22:21
almost fell apart because of resistance from Mexico, but it came back from the brink after a weekend of urgent diplomacy,
2020/04/12 22:22
Donald Trump,
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t 9.7 million barrels a day
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hough it's not clear whether those numbers will represent real cuts or just production idled because of market forces.
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OPEC Plus is up and alive
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$US70 a barre
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first American president to push for higher oil prices in more than 30 years
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The production restraints are set to last for about two years,
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After June, the 10 million barrel cut will be tapered to 7.6 million a day until the end of the year, and then to 5.6 million through 2021 until April 2022.
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until May 1,
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continue flooding the market for nearly a futher three weeks.
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r 8.5 million barrels a day
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kingdom's production will decline from a much higher level.
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oil prices in New York fell more than 9 per cent as traders though
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c
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ht the cuts weren't large enough
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far more worried about consumption than supply.
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20 million barrels a day in April.
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to plunge 20
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"Demand is down by more than double the 9.7 million barrels-a-day cut agreed," said Amrita Sen, chief oil analyst at consultant Energy Aspects.
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further 3.7 million
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t a fraction under 8.5 million barrels a day
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