NavigatIIR: Despite OPEC+ Cuts, U.S. Delays in Production, Pipelines Still Expected
NavigatIIR: Despite OPEC+ Cuts, U.S. Delays in Production, Pipelines Still Expected
SUGAR LAND--April 27, 2020--Researched by Industrial Info Resources (Sugar Land, Texas)--Earlier this month, the OPEC+ group, which includes Saudi Arabia, Russia and other nations, agreed to cut oil production by 9.7 million barrels per day (BBL/d) in May and June, representing roughly 10% of global supply. Other countries, while not part of the OPEC+ agreement, have agreed to curtail production. Brazil's Petrobras (NYSE:PBR), for example, has said it will reduce crude oil production by 200,000 BBL/d. Then there are those countries that, while not coming to any formal agreement, see a reduction in the cards for economic reasons. Among these is the U.S.
To read the complete article, check out Industrial Info's most recent NavigatIIR online newsletter.
Subscribe Now!(All Fields Required)
Related Articles
Articles related to this company