Weekly Fundamentals – Eleven Non-OPEC Producers Reach a Deal to Cut Output

For the first time since 2001, non-OPEC producers agreed to coordinate with OPEC members to cut oil production. Russia, along with 10 other countries including Mexico, Oman and Azerbaijan over the weekend agreed to lower total output by -0.558M bpd.

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Weekly Fundamentals – Eleven Non-OPEC Producers Reach a Deal to Cut Output